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Uber to Consider Accepting Bitcoin and Other Cryptocurrencies from Customers

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Thu, 02/11/2021 - 14:11
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Alex Dovbnya
Ride-hailing giant Uber doesn't want Bitcoin on its balance sheet, but it could start accepting it from customers
Uber to Consider Accepting Bitcoin and Other Cryptocurrencies from Customers
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During a recent appearance on CNBC's "Squawk Box," Uber CEO Dara Khosrowshahi mentioned that the ride-hailing giant was looking into Bitcoin as a payment option for its customers:

Just like we accept all kinds of local currency we are going to look at cryptocurrency and or Bitcoin in terms of currency to transact. That's good for business, that's good for our riders and our eaters.

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However, Khosrowshahi decisively rejected the idea of putting the cryptocurrency on the company's balance sheet, dismissing it as a speculative play:

It was a conversation that happened that has been quickly dismissed. We're going to keep our cash safe. We're not in the speculation business.

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Oracle Rumored to Be Next Corporation to Get into Bitcoin: Max Keiser's Source

No profits, no Bitcoin

As reported by U.Today, Oracle and Twitter are among the corporations that are rumored to copy Tesla's shocking move by stashing their cash reserves into Bitcoin.

In a caustic tweet, Anthony Pompliano of Morgan Creek Digital says that Uber simply does not have any profits to invest in crypto.

The $116 billion company remains unprofitable despite beating analysts' earnings estimates in Q4, 2020.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.