Meme Stock Meets Meme Currency: AMC Plans To Accept Dogecoin And Sell NFT – Dogecoin – US Dollar ($ DOGE), AMC Entertainment Holdings (AMC)


An AMC theater. Photo by the author.

AMC plans to take Dogecoin

AMC Entertainment Holdings, IncThe CEO of. (NYSE: AMC) Adam Aron looked at his company’s status as an action meme. By raising the price of its shares earlier this year, Wall Street Bets “Apes” allowed Aron to avoid bankruptcy and then add a cushion to AMC’s balance sheet via side bids. Since then, Aron has been concerned about his ape shareholders, for example by announcing a screening of Gorillas in the mist on World Gorilla Day this week, with proceeds going to a gorilla charity.

Aron has also done innovative things with his chain of theaters, like using them to stream UFC pay-per-view cards, and now NFL games.

On Tuesday, Aron reminded his followers that AMC would accept Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC), and Bitcoin Cash (CRYPTO: BCH) for online payments by the end of the year, and ask them if AMC should consider accepting the same Dogecoin cryptocurrency as well.

As of this writing, Aron’s poll had 107,000 responses, of which over 70% said “Yes, sure, do it.”

What AMC Should Do Next: Auction NFTs

We wrote about NFTs, or non-functional tokens, in an article earlier this year (NFT: Not Just A Blockchain Bubble). It might be worth rereading it as an introduction, given the boom they’ve seen since. Suffice it to say, for the purposes of this article, that NFTs are digital collectibles. AMC CEO recently suggested that his company might sell NFT movie tickets at some point, but he may want to consider expanding the idea a bit and banging while the iron is hot. This week, a company listed on the Pink Sheets is said to have auctioned off digital images of two cars that have appeared in films for a total of $ 14,000. Presumably, it would take negotiations with the movie studios to sort out the details of the licensing and revenue sharing, but why not get some cash back while the NFT speculators are ready to part with it?

A big name last spring

As a reminder, AMC was one of the top ten names in our system last April.

Screenshot via Wallet armor on 04/01/2021.

Since then it was up nearly 315% at Tuesday’s close, but has fallen in the last ten days.

Our system was still slightly bullish on this Tuesday, but it wasn’t one of our best names at the time. It is possible that investors’ risk appetite for stocks even has waned a bit as a result of the recent Evergrande Group in China (OTC: EGRNF). Let’s end this with a quick commentary on this.

Evergrande quick update

In our previous article, we offered some avenues to examine the situation of Evergrande in China. So far, Mira Christanto’s assessment seems accurate.

In case that changes, and it leads to a crash in the US: In the video below, we use the iPhone Portfolio Armor app to show how you can protect your wallet.

As a reminder, we are increasing our app and website prices by a third at the end of the week, but current customers will grandfather and keep our current prices.


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