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AMC Explores Shiba Inu Payments In Addition to Other Crypto Options

AMC is exploring Shiba Inu as payment for both its products and services in addition to the upcoming cryptocurrency options, such as Bitcoin and Dogecoin–among others.

(Photo : Jakub Porzycki/NurPhoto via Getty Images)

Shiba Inu cryptocurrency logo displayed on a screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on June 29, 2021

It is to note that AMC is already gearing up to accept crypto payments, including Bitcoin, Litecoin, Ethereum, and even Dogecoin, in the near future.

AMC Explores Shiba Inu Payments

Now, the CEO of the movie chain, Adam Aron, revealed that his firm is also exploring how to include Shiba Inu into the crypto payment options of AMC, as per the news story of The Verge.

If ever Shiba Inu becomes part of AMC’s payment options, it will be the second meme coin that the movie chain will be accepting to pay for its goods and services.

(Photo : by Tom Cooper/Getty Images)

DENVER, COLORADO – AUGUST 20: Movie goers leave the AMC Highlands Ranch 24 on August 20, 2020 in Highlands Ranch, Colorado. AMC Theatres reopened more than 100 of its movie theaters across the United States today, with new safety precautions in place, for the first time since closing in March because of the coronavirus (COVID-19) pandemic.

The other meme coin that the AMC boss has already confirmed is Dogecoin.

In a report by FXEmpire, the management of AMC disclosed that the movie chain is looking into the possibility of including Shiba Inu in its crypto list.

It is to note that the likelihood of Shiba Inu’s inclusion of AMC’s payment options was mentioned during the third-quarter earnings call of the movie chain.

Read Also: Crypto Watch: Shiba Inu Gains 50 Percent Surge, Still Under Dogecoin’s Valuation

AMC and Cryptos

The earnings call of AMC further revealed that the company is ready to accept payments in the form of cryptos in the first quarter of 2022.

Aside from Shiba Inu, the CEO of AMC further noted that the IT team of the theater chain is already working on the code as it gears up to accept cryptos as payments.

It is worth noting that the chairman and CEO of the cinema operator previously announced that AMC will start accepting the largest crypto, Bitcoin, as ticket payments before 2021 come to an end.

AMC and Reddit Retail Investors

The move of AMC to accept cryptos as payment for its services and goods further helps maintain the relationship between the cinema operator and their meme stock shareholders.

Way back on January 30, AMC went on to admit that its “meme stock” rally due to the hype the Reddit investors created has helped the company survive.

To be precise, the AMC CEO revealed that the retail investors from Reddit rescued the cinema operator from its whopping $600 million debt.

That said, during the second-quarter earnings calls of AMC last August Aron further extends his appreciation to the meme stock investors.

The AMC boss even went on to answer numerous questions coming from the Reddit retail investors.

Now, the idea of also including the Shiba Inu coin in the payment options further helps cement the relationship of the movie operator to its new bulk of shareholders.

Related Article: AMC to Accept Cryptocurrency Payments for Movie Theaters | Ethereum, Litecoin, and More?

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Written by Teejay Boris

ⓒ 2021 All rights reserved. Do not reproduce without permission.

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