Skip to main content

Dogecoin enthusiasts have a reason to celebrate, this week: AMC Theatres, one of America’s largest theater companies, announced on Wednesday it would accept Dogecoin payments via BitPay Wallet starting this year. AMC will accept payment through digital gift cards capped at $200 a day, which can be used in-person or on AMC’s website or mobile app.

Learn how smart money is playing the crypto game. Subscribe to our premium newsletter - Crypto Investor.

Established in 2011, BitPay is already used by major retailers like Amazon, Adidas, American Eagle, Bed Bath & Beyond, GameStop and Delta Air Lines. On Wednesday, retailer PacSun also announced it would accept Bitcoin transactions via BitPay.

The move follows a previous September announcement from AMC Theatres saying it would allow customers to buy movie tickets through Bitcoin, Ethereum, Litecoin and Bitcoin Cash. At the time, Dogecoin enthusiasts expressed disappointment that Dogecoin had not been among the cryptocurrencies selected.

However, that same month, AMC Theatres CEO Adam Aron polled Twitter users to ask if the cinema chain should embrace Dogecoin. Nearly 70% of respondents supported the cryptocurrency, saying “Yes, for sure, do it.” Comments ranged from “​​Dogecoin is the voice of the people” to “Accepting #Dogecoin is the obvious decision for AMC!”

AMC has more than 600 theaters across the nation, and nearly 360 in Europe.

AMC is not alone in accepting cryptocurrencies for movie tickets and everyday transactions. This spring, the Major Cineplex Group, Thailand and Laos’ largest movie operator, piloted accepting Bitcoin payments for movie tickets. And this July, Burger King Brazil said it would accept Dogecoin for dog treats.

Dogecoin soared in value this week, after Tesla CEO Elon Musk shared an image of a Shiba Inu puppy, Dogecoin’s mascot.

Despite its popularity among meme stock investors, Blockchain analytics firm Chainalysis reported in August that more than 80% of Dogecoin’s supply (roughly $28 billion) is concentrated in the hands of just 535 entities.