Why did a Canadian company add a Shiba Inu worth $1.5 million on its balance sheet?

Ask The Doctor, a Canadian online medical service provider stated that it has added Shiba Inu (SHIB) to its balance sheet for $1.5 million (approximately Rs. 11.26 crore). The healthcare business purchased about 31 billion SHIB tokens through well-known crypto exchange Kraken, according to the announcement, and plans to begin accepting the token as a payment option from its partners within three days.

In 2016, Ask The Doctor became the first healthcare firm in Canada to accept Bitcoin payments, making it the first of its kind in the country.

The news comes only hours after the business tweeted that it has been inundated with requests from crypto users, particularly the “SHIBARMY,” to begin taking payments in the coin.

So why Shiba Inu and not Dogecoin, the most popular cryptocurrency?

Shiba Inu was apparently added to the company’s balance sheet as a result of a choice to include it or Dogecoin. The company decided to poll its 27,000 Twitter followers to see which one they desired to be put in balance, and over 90% of the 10,156 people who responded chose SHIB over DOGE.

Most popular meme coins

However, the change does not imply that the firm would no longer accept Dogecoin payments. The healthcare company, which has the majority of its users in Canada, has been promoting cryptocurrencies in recent months, even introducing some as a payment option for services delivered.

It began accepting Dogecoin for healthcare services with its partners last month, with its creator Prakash Chand stating his belief in the coin’s value and scalability. “I’m confident doge will have the most usefulness as a worldwide currency because of their speed of settlement and minimal transaction costs,” he claimed. “Possible greater market cap than Bitcoin as the community expands,” he added.

Ask The Doctor is a Toronto-based online healthcare firm that allows clients to contact medical professionals via text messaging or video streaming. It was created in 2010. Former NBA stars Israel Idonije and Dikembe Mutombo are among the company’s co-founders.

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