AMC to accept Shiba Inu Coin for payments via BitPay


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TL;DR Breakdown

  • AMC Ent. to will start accepting SHIB as a payment method in two to four months
  • The company will involve Bitpay in facilitating transactions.

AMC Entertainment Holdings Inc CEO Adam Aron announced that Bitpay decided to support SHIB. Bitpay specifically said yes to his request. So the theatre chain can take Shiba Inu coin for the online purchase of cinema tickets and concessions. AMC is the first Bitpay client to use the meme coin. The store will start accepting SHIB in two to four months.

The news brought positive reactions, with one tweet stating, “Fantastic! This is such great news for all $SHIB holders. More and more businesses will follow, and adoption will grow exponentially!”

In the past few days, the theatre store has been exploring how to SHIB. Already, they had decided to incorporate it in their crypto-list parade.

The entertainment powerhouse added a Bitcoin payment option at the beginning of the year. By then, it promised to utilize the crypto space well moving forward.

Recently, the company started to accept DOGE payments. However, AMC restricted the DOGE payment to digital gift cards. The gift cards have a value of $200 a day. And are accepted on the website, mobile application, and in theatres. Twitter followers endorsed Doge for use after Aron published a poll to adopt it.

AMC CEO Twitter poll

Aron subjected Shiba Inu to the Twitter poll. The AMC CEO published a poll asking if AMC should accept Shiba Inu. Consequently, the tweet gathered a total of 153,000 responses. 81.4% of the respondents gave SHIB the green light. They want to see SHIB added as a payment method.

Recently, the company was concerned about how to handle Shiba Inu as a means of payment. The company was also exploring the feasibility of launching its digital token.

Aron is ambitious. Through his leadership, AMC entertainment is in talks with several Hollywood studios. He feels they can jointly venture into memorial non-fungible tokens (NFTs.) The CEO thinks that NFTs of famous movie titles shown in its theatre would be an excellent investment.

The announcement came as the SHIB community is nursing frustrations and disappointments. At the month’s onset, Kraken promised to list the meme coin, but with a condition. The platform said that if a tweet promoting SHIB gets over 2000 likes, it will list it. But the tweet amassed over 80,000 likes. Despite the glaring success, Kraken failed to honour its promise.

Investors rush to capitalize on SHIB

In recent times, SHIB has become very popular. Retail investors like it for its constant growth. The altcoin is growing immensely, and no retailer wants to miss out. Recently, a story of an ex-supermarket manager becoming a millionaire hit the streets. The 35year old began to research crypto. He had the ambition to multiply his dollars.

To his shock, venturing into SHIB saw his ambitions fulfilled much faster. He assumed a millionaire status and retired from the store.

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Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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