AMC May Issue Its Own Cryptocurrency, Per CEO

Fascinating news from AMC:

AMC Entertainment Holdings Inc., already bolstered in the past year by technology, may go even further by issuing its own cryptocurrency.

The Leawood-based company’s CEO, Adam Aron, said on CNBC that the company is getting “hyperactive” when it comes to cryptocurrency, though he added that the idea is one of several the giant theater chain is working on.


I think this is an excellent idea. AMC’s business is on an upward trend, but it still suffers from heavy debt.

Its debt, at nearly $6 billion, far exceeds its cash balance of $1.8 billion, per the most recent quarterly report.

AMC could use a lot more capital to pay off that debt and free itself to pursue a bright future. But shareholders recently voted against the issuance of new shares that could’ve brought in over $1 billion.

They don’t want their ownership position diluted, of course.

But issuing a cryptocurrency dilutes no one. It’s essentially free money.

Given the intense interest in AMC by the meme crowd, I would expect these coins to do rather well. AMC could use that money to pay off some debt and be in a stronger position for the future.

Kudos to CEO Adam Aron for this innovative idea! I hope he pursues it.

More on markets:

Robinhood Exec Dumped AMC Right Before He Limited Trades, Lawsuit Alleges

AMC Has Burned Short Sellers for $4 Billion in 2021, Per Latest Data

Will Evergrande Spark a Global Financial Crisis?

If you found this post interesting, please share it on Twitter/Reddit/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!

Fundrise

This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been good so far. More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days. With their 1% management fee, this could save you $250 on a $100,000 account.

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me. Every fruit and vegetable is super fresh and packed with flavor. I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy! I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s