AMC CEO: AMC has become 'very active' in cryptocurrency, may issue its own cryptocurrency

American multinational entertainment giant AMC is so enthusiastic about blockchain that its CEO is openly considering issuing its own cryptocurrency.

In an interview with CNBC on Oct. 20, AMC CEO Adam Aron spoke about the company’s cryptocurrency ambitions. No exact details were revealed, but Adam Aron did make some revealing remarks.

“We’ve had a lot of noise over the past few months about becoming very active in cryptocurrency.”

He went on to address the possibility of AMC issuing its own cryptocurrency, saying, "There are many reasons why AMC could be a successful issuer and redeemer of cryptocurrencies." One of seven ideas.

AMC is very farsighted when it comes to digital assets. In August, the company said it planned to have the infrastructure to accept bitcoin as payment for movie tickets by the end of the year.

The following month, the theater giant expanded crypto payment options to include ETH, LTC, and BCH. At the time, Aron commented that moviegoers were keen to use cryptocurrencies as a method of payment for their movie tickets and concessions at AMC theaters.

In early October, AMC added Dogecoin to the list of encrypted payment options, after Aron launched a poll on Twitter in which 68% of more than 140,000 participants voted for DOGE.

I sincerely hope to hear from you through the twitter poll. By the end of 2021, AMC will use Bitcoin, Ethereum, Litecoin and Bitcoin Cash for online payments. I hear a lot of people on Twitter saying that we should also accept Dogecoin. Do you think AMC should explore accepting Dogecoin?

— Adam Aron (@CEOAdam) September 21, 2021

On Oct. 6, the company announced the launch of digital gift cards that can be purchased using cryptocurrencies and redeemed for movie tickets and AMC e-cards.

Issuing tokens by public companies may not be an easy task in the United States because of the increasing number of regulatory hurdles to overcome. Social media giant Facebook is finding that out the hard way as scrutiny mounts over its plans to launch a cryptocurrency.

AMC shot up to fame among momentum investors earlier this year after it emerged as a meme stock favored by retail traders on Reddit's WallStreetBets forum. As of this writing, AMC shares were trading at $40.86, down slightly for the week but up 6.2% since early October.

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