AMC Entertainment Holdings CEO Adam Aron revealed Thursday that the theater has begun accepting Dogcoin and Shiba Inu, a week earlier than originally planned. In a tweet, the CEO reported the following.
“Given your obvious enthusiasm and interest in cryptocurrencies, your answer could disrupt the internet. As promised, the http://amctheatres.com website now accepts Dogecoin and Shiba Inu for online payments Special thanks to @BitPay for helping us make this happen.”
On March 1, Aron confirmed on Twitter that BitPay will be available on the site for AMC payments by March 19. He also said that BitPay will be available on the AMC's mobile app on April 16. With this news, it's officially clear that AMC visitors can pay for their tickets with DOGE and SHIB. Last year, Aron created Twitter polls for DOGE and SHIB after promising to accept both cryptocurrencies as payment. However, he had said that they would set up payments for SHIB with the help of cryptocurrency service provider BitPay. The company announced in the same month that it would accept Bitcoin, Bitcoin Cash, Ether and Litecoin by the end of the year. The program was launched in November, but customers must use PayPal to make transactions.
Positive response from AMC, DOGE and SHIB
According to Aron's earnings announcement earlier last month, the company posted net income of more than $145 million, generated more than $215 million in positive cash and had a record year-end liquidity position of more than $1.8 billion. fourth quarter of 2021. AMC's financial results are expected to continue to push the stock higher in the final quarter of 2021, especially with the DOGE and SHIB payments The same is true for Coinbase. The same is true for Coinbase, whose stock has gained handsomely due to good financial results, while the value of cryptocurrencies has fallen. AMC is the largest blockchain movie theater in the United States, with approximately 970 movie theaters and 10,833 screens worldwide. At the time of writing, AMC shares are up more than 1% to just over $15, while DOGE shares are up nearly 2%. SHIB's profit was the biggest gain of the three, up more than 10%.