Adam Aron, the CEO of the meme-stock movie theatre giant went on Twitter yesterday to announce that AMC will accept SHIBA INU for online payments for movie theatre tickets and concessions, as the company partners with BitPay to be the first corporation to accept the crypto.
Alluding to AMC being the reason Bitpay incorporated SHIB at all, Aron also went on to say that the timing for the move is between 60 – 120 days, theoretically meaning that AMC could be accepting Shiba Inu tokens at some point in Q1 of 2022.
What is Shiba Inu?
Shiba Inu has been one of the fastest growing meme-coins of 2021, exploding into the top of the cryptocurrency rankings by market cap this year, driven by a huge self-styled army of fans. At the same time, the theatre company run by Adam Aron has seen incredible growth, driven by the Reddit WallStreetBets retail investors who, alongside GameStop, have driven the price from single-digits to over $72, and at the time of writing the stock is sitting at over $40 per share.
We have recently talked about the dramatic rise of SHIB here on this site, and the adoption by one of the major players in the Russell 2000 ETF, as well as a company with a massive following, can only be bullish for the crypto.
AMC to accept SHIBA INU, but not everyone’s happy about it.
Naturally, many naysayers replied to say what a thoroughly bad idea it was, despite the AMC boss previously running a public poll asking followers (mostly retail shareholders) if they want to see SHIB accepted as a payment form, and getting a resounding YES from it. In fact, over 80% of the respondents declared they would like, at some point in the future to see that AMC will accept SHIBA as well as Bitcoin, Ethereum, Litecoin and Dogecoin.
This poll got massive engagement amongst the companies millions of retail shareholders, with a massive 153,000 votes, and by our calculations over 124,600 people voting YES.
Earlier in the year, Adam Aron announced that the company would accept DOGE in payment for AMC giftcards, so this move continues the trend of the cinema giant continuing to explore more and more in the world of not only crypto, but also the memecoins which have become synonymous amongst retail traders with the Ape movement.