SHIB landing this trillion-dollar global company as a merchant could be Shiba Inu’s biggest catalyst so far.
AMC Entertainment is the largest movie theater chain in the United States. In a tweet from November of 2021, Adam Aron, the CEO, said,
“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!”
Most recently, the news broke that the currency will be accepted by March 19th in this tweet:
“BitPay will be live for AMC online payments on our web site by March 19, and live on our mobile apps by April 16, possibly a few days earlier.”
Aron had launched a Twitter poll in late October asking if the company should accept Shiba Inu payments, with 81.4% of respondents selecting, “for sure”.
In November the company began accepting Bitcoin (BTC), Ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC) as payment. At the time they promised that DOGE was on its way, and that they’d look into SHIB.
AMC shares were up a little bit–nearly 4%–on the day of the announcement (Monday) but AMC stock still remains down 30% over the last year.
The SHIB coin launched first in August of 2020. Since then, it has increased in value by nearly 10,000,000%.
AMC is the First Major Retailer to Acccept SHIB Payments
AMC is the first major retailer to accept SHIB, albeit through a partner. They have been also petitioning Robinhood to accept SHIB trading options.
In mid-2021, the rumor mill began churning. On Tesla’s website, there appeared to be an option underneath the Bitcoin payment processing reading “Shiba Inu”. The SHIB ARMY (supporters of SHIB coin) began suggesting that Tesla may in the future accept SHIB payments on their site.
But, Tesla CEO Elon Musk has stood fervently behind his investment in Dogecoin so it’s likely the reference was to the future payment option of Dogecoin instead of SHIB.
However, the AMC Global brand accepting Shiba Inu as payment may set a precedent for SHIB as a coin to be accepted elsewhere, and that’s what the “Shib Army” is excited about.