Cryptocurrency

AMC Mulls Creating Its Own Cryptocurrency, Getting ‘Hyperactive’ In The Space

Movie theatre chain AMC Entertainment Holdings Inc. (NYSE:AMC), which recently announced it would accept meme cryptocurrency Dogecoin (CRYPTO: DOGE) for the sale of digital gift cards, is exploring the possibility of issuing its own cryptocurrency in future.

What Happened: AMC CEO Adam Aron said Tuesday on CNBC’s “Power Lunch” that the company is “getting hyperactive” in cryptocurrency.

“There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency,” Aron said.

See Also: How To Buy Dogecoin (DOGE)

Aron added that the cryptocurrency idea was just one of half a dozen ideas the company is working on currently.

Why It Matters: AMC Entertainment said in August it would begin accepting Bitcoin (CRYPTO: BTC) as payment for movie tickets and concessions by the end of this year.

The move highlighted the company’s efforts to better connect with its new-found backers, the retail investors, who are highly enthusiastic about cryptocurrencies.

Aron announced last month that the movie theatre chain would also accept several other cryptocurrencies for payment.

AMC’s plans indicate the increasing relevance of cryptocurrencies in mainstream circles as an investment option and in day-to-day activities.

AMC Entertainment’s year-to-date gains stand at an impressive 1828.3% as the company continues to see high interest from retail investors.

Price Action: AMC Entertainment shares closed 0.2% higher in Wednesday’s trading at $40.88.

See Also: AMC Entertainment Is ‘Just Weeks Away’ From Announcing Entirely Different Business Line, CEO Says

Photo: Courtesy of JAH2k via Wikimedia

Source: https://www.benzinga.com/markets/cryptocurrency/21/10/23479202/amc-mulls-creating-its-own-cryptocurrency-getting-hyperactive-in-the-space

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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