Leading movie theater chain AMC Entertainment Holdings Inc (NYSE: AMC) has been teasing that it will accept Dogecoin (CRYPTO: DOGE) and other cryptocurrencies for payment. Here’s an updated timeline from the company’s CEO.
What Happened: AMC CEO Adam Aron took to Twitter Inc (NYSE: NYSE:TWTR) Monday to share an update on AMC Theatres accepting Dogecoin.
“This might rev up the cryptocurrency fans amongst you,” Aron said. “AMC IT says that BitPay will be live for AMC online payments on our web site by March 19, and live on our mobile apps by April 16.”
Aron said that Shiba Inu (CRYPTO: SHIB) will also be amongst the cryptocurrencies accepted by theaters. “Bitpay, and therefore soon AMC, accepts Dogecoin and Shiba Inu,” he added.
Related Link: 5 Things You Might Not Know About AMC CEO Adam Aron
Why It’s Important: AMC began accepting Dogecoin for gift card payments back in October. The company also announced in November that users could pay with several cryptocurrencies, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).
Aron’s most recent update in January, on the company accepting Dogecoin, called the plan on track to welcome the popular cryptocurrency as a payment option in the first quarter, with implementation most likely in March.
There has been a continued push by the Dogecoin community for businesses to accept Dogecoin as a payment option. #AcceptDoge is a regular trending topic on Twitter monthly.
Tesla Inc (NASDAQ: TSLA) began accepting Dogecoin for merchandise on its online store. Tesla CEO Elon Musk said an upcoming planned restaurant and theater at a Supercharger location will accept Dogecoin as a payment option.
Musk and others launched a campaign to get fast food restaurant chain McDonald's Corp (NYSE: NYSE:MCD) to accept Dogecoin, an effort that has not been successful to date.
What’s Next: AMC is set to report fourth quarter financial results after market close Tuesday. Analysts are expecting the company to post revenue of $1.09 billion and a loss of 26 cents per share.
The company posted revenue of $763.2 million and a loss of 44 cents per share in the third quarter, beating analysts estimates on both fronts.
Price Action: Shares of AMC Entertainment are up 6% to $18.69 on Monday.
Dogecoin is up 5.02% to $0.1287.
Shiba Inu Coin is up 7.87% to $0.00002506.
Photo: Courtesy of Valerie Reneé on Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.