Advertisement
AD

Main navigation

Uber Open to Accepting Crypto, But Only Under This Condition

Advertisement
Fri, 11/02/2022 - 15:51
A
A
A
Uber Open to Accepting Crypto, But Only Under This Condition
Cover image via stock.adobe.com
Read U.TODAY on
Google News

During a recent interview with Bloomberg TV, Uber CEO Dara Khosrowshahi said that the ride-hailing giant would start accepting cryptocurrencies "at some point."

However, the San Francisco-based company will only add such an alternative payment option when crypto becomes more efficient and environmentally friendly: 

Advertisement

The exchange mechanism is expensive, it's not great for the environment. As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more

Bitcoin's massive energy consumption has been a major hurdle to wider merchant adoption. Tesla, the top e-car maker, suspended payments in the flagship cryptocurrency last May because of persistent climate-related concerns.

Related
With that being said, it should be noted that the share of sustainable energy in the Bitcoin mining sector has now climbed to 58.5%, according to a January survey published by the Bitcoin Mining Council (BMC).     

Advertisement

Tesla, however, continues to hold roughly $2 billion worth of Bitcoin on its balance sheet. 

When it comes to corporate adoption, Khosrowshahi rejected the idea of adding cryptocurrencies to Uber's balance sheet last September:   

We are going to keep our cash safe. 

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD