The CEO of AMC is very excited about one of the biggest memestocks of them all, is embracing another religion meme player: cryptocurrency. CEO Adam Aron proudly tweeted on Friday about it.
Earlier with “drumroll, please,” Aron announced that bitcoin, ethereum, bitcoin currency, and litecoin were accepted at AMC, adding that the movie theater also accepts Apple Pay, Google Pay, and PayPal.
“Great news! As promised, there are many new ways to pay online at AMC, ”Aron wrote. “We proudly accept now: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Surprisingly, they already account for 14% of our total online transactions! Dogecoin monitor.
Essentially, Aron says that cryptocurrency can be used for online purchases, so it does not look like you will be able to use it to buy anything in person at this time. (As payment goes, Verge points out that PayPal seems to be the only way to pay with cryptocurrency right now). AMC already allows customers to purchase gift cards with cryptocurrency.
Aron’s announcement was not surprising. In the past few months, he has been emphasizing to shareholders that the company is working on accepting cryptocurrency for online payments. He even pulled out a page from Tesla CEO Elon Musk and created two Twitter polls to ask everyone whether AMC should get dogecoin and shiba inside. (Unsurprisingly, Musk liked Aron’s dogecoin vote, which allowed the AMC CEO to go full).
Why is Aron with cryptocurrency, you ask? It all comes down to the company’s new shareholders, brokerage investors flocking on Reddit’s r / wallstreetbets through memes to help keep the company afloat early in the year (and stay on Wall Street). In May, Aron announced that these shareholders own more than 80% of the company and promised to give them free popcorn.
“We work for them. I work for them, ”Aron said in May. “By definition, their passions and passions are important to AMC, their passions and passions are important to me.”
One of those desires happened to be cryptocurrency, according to Aron. And he was happy to make the obligation. That’s easier said than done, though.