AMC Entertainment Holdings Inc. AMC has provided an update on when the movie theater chain plans to accept Dogecoin DOGE/USD and Shiba Inu SHIB/USD for online concessions and ticket purchases.
What Happened: AMC CEO Adam Aron announced on Twitter that the company is still "well on track” for the promised implementation in the first quarter of this year, while the exact month is most likely March.
I have been repeatedly asked when AMC expects to routinely accept Dogecoin and Shiba Inu for any and all payments made via the AMC web site and mobile app. I am being told that we are still well on track for the promised Q1 implementation, with exact timing most likely in March. pic.twitter.com/QSBvLAMHKx
— Adam Aron (@CEOAdam) January 6, 2022
See Also: How To Buy Dogecoin (DOGE)
Why It Matters: The move highlights AMC’s efforts to better connect with its new-found backers, the retail investors, who are highly enthusiastic about cryptocurrencies.
AMC said in November last year that it has started to accept Bitcoin BTC/USD, Ethereum ETH/USD and two other cryptocurrencies for ticket purchases.
The theater chain currently accepts Dogecoin for the sale of digital gift cards.
During AMC’s third-quarter earnings conference call in November, Aron said the company was exploring how to accept Shiba Inu, the self-described “Dogecoin killer.”
AMC has also indicated it is exploring the possibility of issuing its own cryptocurrency in future.
Price Action: AMC Entertainment shares closed about 1.3% lower in Thursday’s regular trading session at $22.46, but rose almost 7.5% in the after-hours session to $24.14.
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