On Monday, AMC CEO Adam Aron made an announcement about accepting the meme cryptocurrency Shiba Inu (SHIB).
AMC Entertainment is the world’s largest movie exhibition firm, with theatres in the United States, Europe, and across the globe.
The company has 955 screens and over 10,500 movie theaters across the world as of March 31.
He announced that Bitpay, a crypto payment service provider, has chosen to cater to Shiba Inu because he requested it.
As a result, AMC will be able to accept SHIB as an alternative payment method for film tickets and concessions within 60 to 120 days.
According to Aron, AMC Theatres is about to be the first Bitpay customer to accept Shiba Inu.
The AMC CEO informed that his firm has been attempting to figure out a way to accept SHIB since he posted a Twitter poll on Oct. 29 asking whether AMC should take shiba inu alongside dogecoin (DOGE) and other crypto currencies.
The total number of eligible voters was 153,100; out of this, 87.6 percent said “Yes.”
“As promised,” Aron wrote last week, “there are now many additional options for paying online at AMC. We proudly welcome you to . . . bitcoin, ethereum, bitcoin cash, litecoin. Also Apple Pay and Google Pay are accepted. Surprisingly, they already account for 14% of all online purchases! Dogecoin Next!
While many people anticipate AMC to embrace the four cryptocurrencies through Bitpay, the movie theater chain decided to just include Paypal as a payment option, stating that it “Supports cryptocurrencies.”
Paypal, like AMC, does not allow clients to use cryptocurrencies. Customers must buy cryptocurrencies using Paypal because the platform does not enable them to exchange coins.
Customers must first sell their coins before making a purchase, using the money to cover the cost of the goods.
In March, PayPal started a program called “Checkout with Crypto” in which users can pay for items and services with their Paypal balance, either in fiat currency or cryptocurrencies.
“You will have to sell your cryptocurrency assets and withdraw the funds from their sale or spend those cash proceeds on items,” PayPal clarified.
However, if AMC opens up Bitpay as a payment option in the future, it will be able to accept more types of cryptocurrency.
Payment in bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), wrapped bitcoin (WBTC), dogecoin (DOGE), litecoin (LTC), and 5 USD-pegged stablecoins are presently supported by Bitpay.
