Adam Aron, the CEO of AMC Entertainment Holdings revealed on Thursday that the movie theatre chain has already started accepting payments in Dogecoin (DOGE) and Shiba Inu (SHIB), a week ahead of schedule.
As ZyCrypto reported, Aron had taken to Twitter on March 1 to confirm the news, saying “BitPay will be live for AMC online payments on our website by March 19, and live on our mobile apps by April 16,” allowing AMC moviegoers to pay for tickets and concessions in DOGE and SHIB.
Last year, Aron set up Twitter polls for DOGE and SHIB after promising crypto fans that AMC would soon accept payments in the two cryptocurrencies. He had however said that they would engage the help of crypto service provider firm Bitpay in setting up payments for SHIB.
In the same month, the company announced that they would start accepting Bitcoin (BTC) Bitcoin Cash (BCH) Ethereum (ETH), and Litecoin (LTC) before year-end. The company officially kicked off that program in November although customers would have to transact in these cryptocurrencies using PayPal.
According to an earnings announcement posted by Aron earlier last month, the company posted a net income of more than $145 million, generating over $215 million in Positive cash and a Record year-end liquidity position of more than $1.8 billion in Q4 2021.
AMC’s Q4 ‘21 financial results are expected to bolster the company’s share price, especially with its positive trajectory towards cryptocurrencies, just like Coinbase which recently posted sky-high gains despite the ongoing cryptocurrency drop. AMC is the largest movie theatre chain in the US with roughly 970 theatres and 10,833 screens globally.
At press time, AMC’s stock price is trading at $15.32, up 1.68% on the day while Dogecoin is exchanging hands at $0.11 after gaining 1.82% in the last 48 hours. Shiba Inu on the other hand is the largest gainer at 10.54%, trading at $0.00002268.