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AMC Theatres will now accept cryptocurrency Shiba Inu as mode of payment

AMC is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, the company owned or operated about 950 theaters and 10,500 screens globally.

By: Tech Desk | Pune |
November 16, 2021 1:42:20 pm
Shiba inu, a meme inspired cryptocurrency and a Dogecoin spinoff, has hit an all time high. (Photo: Twitter/ Shiba Inu)

Adam Aron, the Chief Executive Officer (CEO), of the world’s largest movie exhibition company AMC announced on Monday, that the company will soon be able to accept cryptocurrency Shiba Inu (SHIB), as a mode of payment for buying tickets online.

It is worth noting that AMC is the largest movie exhibition company in the US, Europe, and the world. As of March 31, the company owned about 950 theaters and 10,500 screens globally.

Aron tweeted that crypto payment service provider Bitpay has decided to support Shiba Inu specifically because he asked them to. Therefore, AMC will be able to take SHIB for online payments of movie tickets and concessions in about 60 to 120 days. Aron added that AMC Theatres is set to become the first Bitpay client to accept SHIB.

Earlier, Aron noted that the company has been trying to find a way to accept SHIB ever since he set up a Twitter poll on October 29 asking his followers whether AMC should accept SHIB alongside Dogecoin (DOGE) and other cryptocurrencies. Interestingly, out of a total of 153,100 votes, 87.6 percent said “Yes.”

Just last week, Aron took it to Twitter and said: “As promised, many new ways now to pay online at AMC. We proudly now accept: drumroll, please … Bitcoin, Ethereum, Bitcoin cash, Litecoin. Also Apple Pay, Google Pay, Paypal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next.”

Along with the adoption of cryptocurrencies, AMC also announced plans to open more than a dozen new locations across the US, Europe, and the Middle East soon.

Meanwhile, SHIB is currently trading at $0.000051 USD, with a 24-hour trading volume of $3,429,572,568 USD. The meme coin was down 3.74 percent in the last 24 hours, according to CoinMarket cap.

Disclaimer: Cryptocurrency is an unregulated space and digital currencies are not backed by any sovereign authority. Investing in cryptocurrency comes with market risks. This article does not claim to provide any kind of financial advice for trading or buying cryptocurrency.

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