Leading Canada-based online medical service provider ‘Ask The Doctor’ on Wednesday announced that it had added $1.5 Million worth of Shiba Inu to its balance sheet.
According to the disclosure, the foray saw the healthcare startup acquire approximately 31 Billion SHIB via Kraken exchange as the firm prepares to start accepting the token as a payment option from its partners in less than three days.
The announcement comes less than three hours since the startup announced that it had been receiving numerous demands from crypto users, specifically by the “SHIBARMY” to start accepting the token.
“We will be adding $shib as well within 72 hours due to the high number of requests from the #SHIBARMY for utility with our healthcare partners,” an earlier tweet read.
Last month, a tally conducted on its Twitter page showed that 63.1% of users and followers preferred Shiba Inu to Floki Inu prompting it to announce that they would soon be accepting the cryptocurrency.
Utility Accessibility And Privacy Key Considerations
The healthcare firm, which has most of its users in Canada has in the recent past been championing cryptocurrencies, even adding some as a payment option for services rendered.
Last month, it started accepting Dogecoin for healthcare services with its partners, with its founder Prakash Chand expressing his confidence in the utility and scalability of the coin.
“I’m convinced doge will have the highest utility as a global currency because of their speed to settle a transaction and low fees per transaction, ” he had said, ” Possible larger market cap than Bitcoin as the community grows.”
Prakash has been a great crusader of cryptocurrencies dating back to 2016 when the company became the first healthcare platform to start accepting Bitcoin from its users. In the past, Prakash has emphasized that cryptocurrencies perfectly fit into the healthcare industry given that the issue of privacy remains a top priority for the two industries.
“Until we added Bitcoin, our services had to be purchased using a Credit Card or Paypal. To some, having a banking paper trail documenting a transaction with “Ask The Doctor” did not provide them with a sufficient level of privacy.” he once told the Huffington Post.
Prakash who refers to fiat as “imagined reality” has also lauded cryptocurrencies for the level of accessibility they offer to users . Whereas credit cards are not globally available, crypto offers monetary democratization, meaning that one can transact anywhere without regard for any physical barriers.
With the addition of Shiba Inu in less than 72 hours, the firm now hopes to use Coinbase Commerce to accept payments using the token as it has been doing with Doge.