AMC Chief Expands Crypto Payments, Leaves Off Dogecoin

AMC Entertainment made a splash in the cryptocurrency industry by revealing it intends to support more than just bitcoin payments. In a surprise move, AMC CEO Adam Aron tweeted that the company plans to also accept Ethereum, Litecoin and Bitcoin Cash for movie tickets and concession transactions. One cryptocurrency that was conspicuously left off the list was Dogecoin.

The Dogecoin community has had AMC on their radar since Aron announced the bitcoin integration in August. YouTube talk show host Steven Steele pointed out that many Dogecoin investors also own shares of AMC’s stock, which would make both camps happy. Many Dogecoin fans expressed their surprise that Aron left out Dogecoin, calling it a big mistake, while others are holding out hope that it is just a matter of time.

Dogecoin bulls have been trying to get the meme coin more into the spotlight with hopes of driving the price up higher to the $1 threshold and beyond. The Doge price currently hovers at just below $0.24.

Crypto Push

Aron first revealed that the company would be integrating bitcoin payments during the movie chain’s Q2 earnings call. Since then, the meme-coin crowd has been sending him a message that Dogecoin also works well for payments, boasting transactions that are faster and cheaper than bitcoin.

Dogecoin can complete transactions in about one minute, while bitcoin blocks are completed in around 10 minutes. Thanks to second-layer technology such as the Lightning Network, bitcoin payments can be made in real-time, or in about the same amount of time it takes to send an email.

Tall Tale?

AMC’s announcement was also met with some skepticism, given that it came on the heels of the recent fake news involving Walmart and Litecoin. Scammers issued a fraudulent press release saying that the big-box retailer and the Litecoin project were teaming up, and it sent the markets into a frenzy. Litecoin initially spiked, but once Walmart and Litecoin denied any collaboration, those gains were quickly erased.

For AMC, the announcement came straight from the CEO’s Twitter account, which incidentally has yet to be verified.  AMC’s stock price is up fractionally on the day, while the bitcoin price is slightly lower.