Elon Musk says dogecoin fees need to fall before being 'viable' payment
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Dogecoin fees need to drop before becoming a viable option for retail purchases such as movie tickets, according to Elon Musk.
Musk's remarks came after AMC CEO Adam Aron indicated that the meme-based cryptocurrency may be accepted as a payment option at its theaters in the future.
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"Super important for Doge fees to drop to make things like buying movie tix viable," Musk replied to Twitter user Shibetoshi Nakamoto, otherwise known as dogecoin co-creator Billy Markus.
"AMC CEO not only talking about accepting Dogecoin but saying it was the single most interacted with a tweet he has ever made, the crypto market finally seeing some green," Nakamoto tweeted.
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On Wednesday, Aron asked his Twitter followers if the movie theater chain should accept the cryptocurrency as a form of payment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 40.65 | +0.55 | +1.37% |
About 77% of respondents, or approximately 140,000 people, voted in favor of the concept, Aron said.
Not only was it his "highest ever read tweet" but it even gained attention from Musk himself.
"It’s clear that you think AMC should accept Dogecoin," Aron wrote following the results. "Now we need to figure out how to do that. Stay tuned!"
AMC CEO SUGGESTS DOGECOIN COULD BE ACCEPTED AT THEATERS: 'STAY TUNED'
A single dogecoin is currently worth about 22 cents, an increase of more than 8,000% over the last 12 months, according to crypto trading platform Coinbase.
The movie theater chain has already announced plans to accept Bitcoin, Etherum, Litecoin and Bitcoin Cash for online payments starting later this year.
FOX Business' Thomas Barrabi contributed to this report.
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