The CEO of the world’s largest movie exhibition company, AMC Entertainment, says that payment service provider Bitpay has agreed to support the meme cryptocurrency shiba inu (SHIB) at his request. AMC will soon be able accept payments in shiba-inu cryptocurrency.
AMC says Bitpay has agreed to support Shiba-Inu: SHIB will be accepted for payments at AMC soon
Adam Aron, CEO of AMC, announced Monday night that AMC would soon be able accept SHIB (the meme cryptocurrency shiba Inu). AMC is the biggest movie theatre company in America, Europe and around the globe. The company had approximately 950 theatres worldwide and 10.500 screens in operation as of March 31.
Bitpay, a crypto payment platform provider, tweeted that Bitpay had decided to help shiba Inu because he requested it. AMC Theatres will now be able take SHIB online for movie ticket and concession payments in 60-120 days. Aron said that AMC Theatres will be the first Bitpay client capable of accepting shiba Inu.
AMC CEO John Amos previously stated that his company is trying to accept SHIB from the moment he started a Twitter poll Oct. 29 to ask his followers whether AMC should also accept dogecoin (DOGE), and other cryptos. Out of a total of 153,100 votes, 87.6% said “Yes.”
Last week, Aron tweeted: “As promised, many new ways now to pay online at AMC. We proudly now accept: drumroll, please … bitcoin, ethereum, bitcoin cash, litecoin. Apple Pay, Google Pay and Paypal are also accepted. They already make up 14% of all online transactions, which is incredible! Dogecoin next.”
AMC Accepts Paypal Which ‘Supports Cryptocurrencies’
While many people expect AMC to accept the four cryptocurrencies through Bitpay, the movie theater chain decided to just add Paypal as a payment option, which AMC says, “Supports cryptocurrencies.”
While Paypal does support cryptocurrencies — the same four offered by AMC — customers must buy them through Paypal as the platform does not offer the ability to transfer coins to or from it. Customers must first sell all of their coins to be able to purchase the item.
Paypal started offering its users the option to use Paypal balance, either in fiat currency or cryptocurrencies, to pay for goods and services in March through a program called “Checkout with Crypto.”
The payments giant clarified, “you will need to sell your crypto assets and withdraw the cash proceeds from their sale or use those cash proceeds to pay for purchases,” emphasizing: “You also cannot use crypto assets directly as currency to pay for goods or services.”
AMC may add Bitpay to its payment options in the future. This will allow the company to accept additional cryptocurrencies. Bitpay currently supports “payment in bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), wrapped bitcoin (WBTC), dogecoin (DOGE), litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD),” its website details.
AMC convinced Bitpay to allow shiba-inu payments. What are your thoughts? Comment below.
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