AMC Entertainment could launch its own crypto

 AMC Entertainment could launch its own crypto

AMC Entertainment could launch its own crypto.

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AMC Entertainment is known as a company with a soft spot for crypto. It is now looking to expand its cryptocurrency operations.

 According to its CEO Adam Aron, AMC Entertainment  might step up its game soon and launch its own token. On Wednesday Adam Aron told CNBC that “There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency.”

AMC could be planning to introduce a token backed by the Blockchain network that will be used to pay for its services and products. The plan appears to be still in the works, and Aron did not disclose further details about the token.

AMC has been one of the hottest ‘meme stocks’ in 2021 which went viral after GameStop. The trading frenzy took place last June and was mainly supported by smaller Reddit and Twitter amateur traders, who were promised free popcorn together with their shares. During that time it doubled its stock price to an all-time high of $72.62 at one point. Since then the stock has lost some steam. ($39.24 at the time of writing).

By the end of the year AMC Entertainment will introduce a crypto payment system to allow its customers to pay for their tickets using Bitcoin, Ethereum, Litecoin and Bitcoin Cash. It recently took things even a notch further by adding Dogecoin to its accepted payment options after its CEO Adam Aron organised a poll on Twitter where more than 140,000 participants took place. It’s worth mentioning that Adam Aron tweets every day and reads all his comments.

The use of cryptocurrency has helped save AMC from bankruptcy, after it was hit hard by the Covid-19 pandemic.

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