AMC To Begin Accepting Shiba Inu Coin For Payments Within Next 4 Months Via BitPay: CEO

AMC Entertainment Holdings Inc AMC Adam Aron said on Twitter Monday that he asked a payment service provider to support Shiba Inu SHIB/USD so that the theater chain can accept the meme coin for online payments.

What Happened: Aron said that AMC would be the first BitPay client to accept SHIB sometime between the next two and four months.

The payments in SHIB would be accepted for both movie tickets and concession items, as per Aron’s tweet.

Attention #SHIBArmy: Our friends @Bitpay decided to support Shiba Inu specifically because I asked, so AMC can take Shiba Inu for online payments of movie tickets and concessions. @AMCTheatres to be the first @bitpay client to accept Shiba Inu. Timing 60-120 days. This is a WOW! pic.twitter.com/F54i22hHDv

— Adam Aron (@CEOAdam) November 15, 2021

See Also: How To Buy Shiba Inu (SHIB)

Why It Matters: Last week, Aron had said that AMC was exploring how the company could accept SHIB and that the coin was “the next one on our cryptocurrency hit parade.”

AMC has begun accepting Bitcoin, Ethereum, and two other cryptocurrencies and said it would roll out Dogecoin DOGE/USD acceptance next. 

SHIB's rival DOGE is accepted by AMC in the form of digital gift cards, which are accepted on the cinema chain’s website, mobile application, and in theaters for up to a value of $200 a day.

On Monday, BitPay said in a blog post users of its services can spend cryptocurrencies like BTC, ETH, and DOGE on Amazon.com Inc AMZN purchases through its “crypto debit card.”

The Bitpay-Amazon announcement failed to send DOGE higher but did spur a discussion among users of a major Reddit Dogecoin forum — r/Dogecoin. 

Price Action: At press time, SHIB traded 2.27% lower at $0.0000515 over 24 hours. 

Read Next: AMC Mulls Creating Its Own Cryptocurrency, Getting 'Hyperactive' In The Space