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Dogecoin and SHIB go live on AMC theatres

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It comes as a surprise to moviegoers and crypto enthusiasts that Dogecoin (DOGE) and Shiba Inu (SHIB) are being accepted for online payments at AMC theatres. This development comes a week earlier than its audience expected. Adam Aron, CEO of AMC Entertainment Holdings Inc. took to his Twitter handle, on 10 March 2022, to make the announcement. He further acknowledged BitPay, the payment gateway institution, for helping the two meme coins to be accepted.

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As reported by TWJ earlier in the week, AMC was intended to introduce functionality for the two altcoins on 19 March 2022. This support was to be added to its website and mobile application, but it comes as a surprise to everyone a week earlier than expected.

The movie theater business conducted Twitter polls to determine if it should proceed with the Dogecoin and Shiba Inu combination. Based on the clear majority of answers from the communities, Dogecoin and Shiba Inu, that were rooting for facilitating payments through the two coins, Adam Aron affirmed that his company had begun working on enabling the functionality of the altcoins.

The theater company had already been allowing its customers to pay for tickets and concessions through Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), since November of 2021.

Dogecoin remains untethered despite AMC’s latest inclusion

The price of the crypto assets seemed to be not affected despite being listed on various platforms. The crypto market has been bearish over the past few days. It also seems like Dogecoin (DOGE) is following the market sentiment even with its latest inclusion in AMC’s payment mode. Furthermore, DOGE has been bearing a drop of 8.91% over the past week. During the time of writing, the meme coin was trading for $0.1166 with no major changes over the last 24-hours. The market cap of the asset was at $15.48 billion. This aided in the coin’s climb up the crypto ladder.

AMC CEO talks about crypto plans amid accepting SHIB

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In a new interview with Fox Business, Adam Aron, CEO of movie theatre chain AMC, indicated that his company would have to “wait and see” if it might benefit from adopting cryptocurrencies. He said,

“Apple Pay, Google Pay and PayPal already are 15% of our online ticketing. So already there has been an immediate benefit. Only time will tell how big cryptocurrency is.”

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Adam Aron, CEO of AMC Entertainment Holdings Inc.

If the company sees huge prospects in the industry, the CEO also stated that the corporation may create its own coin. He also stated that the regulatory landscape surrounding cryptocurrencies is fast-changing and that the company will be on the right side of the law at all times.

However, Aron offered updates on cryptocurrencies on AMC’s fourth-quarter results call earlier this month, and these remarks are a reiteration of those updates.

The theater giant had earlier said that it will, on 19 March 2022, introduce functionality for BitPay-supported online payments to its mobile app and website. As a result, the world’s largest movie theatre chain will soon be able to take Dogecoin and Shiba Inu, the two most popular meme coins.

Bitcoin’s (BTC) encouter with AMC

In November 2021, the theatre behemoth had announced that Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) were accepted as online payments.

Aron made the remark in response to a poll he put on Twitter, in which he asked followers if the company should take Dogecoin, a cryptocurrency that began as a joke. The answer was a resounding yes.

Speculations over AMC accepting crypto

On the surface, the company’s decision to take cryptocurrency may appear to be pointless in terms of its efforts to rebound from its long slide. But there’s more to this concept than meets the eye, and if moviegoers respond positively, it might potentially aid AMC’s recovery. Accepting these payment options could be another piece of the puzzle in getting the business back on track to profitability.

The massive financial burden on AMC Entertainment’s balance sheet is one of the company’s major challenges. The solution to this problem is that many of WallStreetBets’ apes come from generations that are passionate about cryptocurrency, including as millennials and Gen Z’s oldest cohort. When AMC’s retail investor fans and shareholders go to the theatre, it’s likely that at least some, if not all, of them will pay with bitcoin.

If AMC is able to obtain a significant amount of cryptocurrency in exchange for movie tickets, it could keep these digital assets in its wallet until they reach new all-time highs, potentially doubling or tripling its profits from those sales simply by having “diamond hands” (holding and refusing to sell) for a few quarters before cashing out the cryptocurrencies. This method is hazardous due to the volatility of digital currencies, but it could also be a way to get more value for the money with ticket sales.

Shiba Inu [SHIB] to join the AMC fam in the next 3 months

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Of late, the crypto industry has been recognized by the prominent altcoin, Shiba Inu [SHIB]. Despite being new to the market, SHIB managed to steer the attention of the entire globe towards itself. The hype surrounding meme coins and Shiba Inu’s rivalry with the OG meme coin, Dogecoin [DOGE] certainly put SHIB under the spotlight. Therefore, several platforms across the world decided to onboard the emerging asset. The world’s largest movie chain, AMC mirrored this emotion and is all set to include SHIB in its latest crypto-venture.

A couple of months ago, AMC Theatres announced its entry into the crypto-verse. The CEO of the firm, Adam Aron previously revealed that an array of crypto assets would be used for payments in the cinema chain. While Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], and Bitcoin Cash [BCH] are currently being used for payments in the platform, Dogecoin [DOGE], as well as Shiba Inu, were still on hold.

As the hype around Shiba Inu progresses, AMC didn’t want to delay the inclusion of the altcoin. Consequently, the CEO took to Twitter and announced that the SHIB Army could expect the inclusion of their favorite asset on AMC in the next 60 to 120 days.

Shiba Inu makes it to the movies

In a recent tweet, CEO Aron revealed that the leading payment processing firm, BitPay had joined hands with AMC to facilitate SHIB payments. The tweet further read,

“Attention #SHIBArmy: Our friends @Bitpay decided to support Shiba Inu specifically because I asked, so AMC can take Shiba Inu for online payments of movie tickets and concessions. @AMCTheatres to be the first @bitpay client to accept Shiba Inu. Timing 60-120 days. This is a WOW!”

Even though Shiba Inu made it to the cut later than Dogecoin, information pertaining to the inclusion of the latter was still under the wraps. This further led to the Doge army urging Adam Aron to include Dogecoin into AMC at the earliest.

Additionally, both SHIB and DOGE made it to AMC following a Twitter poll by CEO Aron.

Furthermore, during press time, SHIB was seen imitating the ongoing bearish momentum. However, it was experiencing dainty damage when compared to the other assets in the market.

AMC has a real treat for crypto lovers; Enables payments in crypto

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The world’s largest movie chain, AMC has been making immense news in the crypto-verse following its interest in incorporating certain prominent coins. The platform had previously suggested that it would induce an array of crypto assets for payments before the end of the year. Now, as the year is on the brink of coming to an end, the CEO of AMC, Adam Aron affirmed that four assets would be made available on the platform for the purchase of tickets.

AMC’s CEO and Chairman, Adam Aron, has time and again expressed his interest in crypto. The world’s largest chain went on to catch the crypto bug as it not only decided to accept crypto for payments but also intended to roll out its native cryptocurrency.

Initially, AMC decided to accept just four coins for payments. This list included Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] as well as Bitcoin Cash [BCH]. Soon after this announcement, the Dogecoin community urged CEO Adams to include Dogecoin [DOGE] into the list.

The skeptical CEO wanted to know if the entire community really wanted the inclusion of DOGE. Hence he carried out a poll regarding the same. While a majority of them wished for DOGE to be a part of AMC, the CEO noted that it would take a while to include the altcoin.

AMC to allow users to book tickets with crypto

In a recent tweet, the AMC CEO made an official statement that customers could pay in crypto for movie tickets. The tweet read,

“Big newsflash! 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.”

Looks like Dogecoin holders and fans have to wait for a while to avail this feature.

Additionally, Shiba Inu [SHIB] also made the cut. Similar to Dogecoin, SHIB was onboarded into the platform via a Twitter poll.

AMC catches the crypto bug; Native cryptocurrency on its way?

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Cryptocurrencies have certainly made it big in the world. An array of platforms recognized these assets and even incorporated them. AMC, the world’s largest cinema chain made it to the headlines after the firm’s CEO expressed interest in crypto. More recently, the AMC CEO revealed that they would take things up a notch while he dropped hints about launching a native cryptocurrency.

A look back into 2021 is proof enough of the growth of the crypto market. The value and the prominence of the industry took a serious turn this year. Celebrities, governments, prominent firms, and even the average Joe went on to embrace Bitcoin [BTC] and other crypto assets.

Better late than never! Following this motto, AMC dived into the crypto biz back in August 2021 when the firm’s CEO, Adam Aron announced the inclusion of Bitcoin into its payment system. While this list witnessed growth in no time, Aron recently noted that the firm was well invested in the industry.

AMC CEO drops hints about launching a cryptocurrency

Appearing in an interview with CNBC, Aron pointed out the company’s latest fervor around the crypto market. He acknowledged the fact that AMC had “made a lot of noise in the last few months about getting hyperactive in cryptocurrency.”

This wasn’t all. The CEO further aims to remain relevant in the crypto-verse. Remarking that the cinema chain would thrive in the crypto biz, he added,

“There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency.”

While this comes as great news to cinema and crypto lovers, seeking a green signal from regulatory authorities, particularly in the US could be a tough nut to crack. The regulatory scenario in the US continues to remain hazy. Ripple, Facebook, and several others have been strong witnesses of the same.

Circling back to where it all started, AMC has been prepping to accommodate cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] as well as Bitcoin Cash [BCH] by the end of this year. Dogecoin [DOGE] was recently added to this list after the community’s appeal to the CEO himself.