AMC considers issuing crypto

Several factors make AMC a viable cryptocurrency issuer as well as a cryptocurrency redeemer, according to CEO Adam Aron

AMC considers issuing crypto

Due to the meme stock phenomenon, AMC's stock price skyrocketed this year, along with the company's commitment to satisfy its vocal fans on social media, including accepting crypto payments. Now, it seems that the movie theater chain may even launch its own Crypto.

According to Adam Aron, AMC's CEO, the theater chain is exploring ways to "issue" its own digital currency.

Several factors make AMC a viable cryptocurrency issuer as well as a cryptocurrency redeemer, said Aron. "That's just one of a half-dozen ideas we're considering right now.”

Public venues are adapting their technological infrastructure to meet consumer demand for crypto-assets like dogecoin, which are liberating alternatives to fiat currencies

However, with ever-increasing regulatory hurdles to overcome, token issuance for listed companies in the United States may prove challenging. Increasing scrutiny of Facebook's cryptocurrency issuance plans has forced the social media giant to learn this the hard way.

Earlier this month, AMC announced that it is accepting Dogecoin online for gift cards via BitPay, a payment processor for a number of retailers, including the merchandise shop for the Dallas Mavericks, owned by noted DOGE supporter Mark Cuban

Previously, the company announced plans to accept Bitcoin for online concessions and movie tickets by the end of the year, and then added Ethereum, Litecoin, and Bitcoin Cash to their list. In response to social media prodding by Dogecoin supporters, Aron conducted a Twitter poll that showed overwhelming support for DOGE payments as well.

At a present price of just under $38 a share, the AMC stock price has maintained the momentum established this spring. Since January 1, 2021, the stock price has risen more than 1,800%.