Movie theater chain AMC Entertainment Holdings Inc. (NYSE: AMC) has started to accept Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) for online payments a week earlier than expected.
What Happened: AMC CEO Adam Aron took to Twitter (NYSE:TWTR) to make the announcement, saying that cryptocurrency payment service provider BitPay helped make it possible to accept the two cryptocurrencies.
Your replies just might break the internet, given your clear enthusiasm and interest in cryptocurrency. As promised, the https://t.co/SPYfKWXcwi web site now accepts Dogecoin and Shiba Inu for online payments! A special shout out to @BitPay for helping us to make this happen. pic.twitter.com/6bwPvQfEetSee Also: How To Buy Dogecoin (DOGE)— Adam Aron (@CEOAdam) March 10, 2022
Why It Matters: Aron had previously said that BitPay would be live for online payments on AMC’s website by March 19 and on its mobile app by April 16.
The company already accepts Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) for movie tickets. The company also made its foray into the non fungible token (NFT) space last year.
The move underscores AMC’s intentions to better connect with its newfound backers and retail investors who are highly enthusiastic about cryptocurrencies.
Earlier this week, Aron reiterated that AMC might issue its own cryptocurrency if the company sees “enormous opportunity” in the sector.
Price Action: AMC closed almost 2.5% lower in Thursday's regular trading session at $15.32 and further lost 0.1% in the after-hours session to $15.30.
Dogecoin is down 3.3% during the past 24 hours, trading at $0.1153 at press time. Shiba Inu is down 4.3% during the period to $0.00002222.
Read Next: Dogecoin Was Just The Beginning: Slim Jim Has Metaverse Plans
Photo by Ser_Amantio_di_Nicolao on Wikimedia
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.