Uber CEO Dara Khosrowshahi has revealed that the app will accept Bitcoin and other cryptocurrencies “at some point” in the future.
Uber Platform Will One Day Accept Bitcoin And Other Cryptos As Payment
In an interview with Bloomberg, the Uber Technologies Inc. CEO Dara Khosrowshahi has said that the company has been having internal discussions about cryptocurrencies “all the time.”
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The CEO has revealed that the Uber platform intends to “absolutely” accept Bitcoin (and other cryptos) “at some point” in the future.
However, Khosrowshah has also said that now isn’t the “right point” for it. The high transfer fees and the negative environmental effects of mining cryptocurrencies are some of the reasons behind the platform not accepting Bitcoin just yet.
“As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more,” said Khosrowshahi.
Uber is one of the most popular apps in the world that lets customers book a taxi ride and order food online, among other things.
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Crypto adoption news usually has a positive effect on the market, and such a huge platform as Uber accepting Bitcoin and other coins may be quite bullish for their price.
Over the past year, mainstream crypto adoption has gained a lot of traction. One of the biggest examples of it being El Salvador accepting Bitcoin as legal tender.
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A few months back, AMC cinemas also started taking payments in numerous cryptos like BTC, Ethereum, and Dogecoin, with Shiba Inu also being added to the platform soon.
The tech retailer giant Newegg already accepted the most popular coins since a while now, and a couple of months back it expanded its payment options roster by adding SHIB.
At the time of writing, Bitcoin’s price floats around $42.5k, down 1% in the last seven days. Over the past month, the crypto has accumulated 1% in losses.
The below chart shows the trend in the price of BTC over the last five days.
BTC's price seems to have crashed down over the last few days | Source: BTCUSD on TradingView
Until a few days back, Bitcoin had showed some strong upwards momentum as the crypto recovered above the $45k mark. Since then, however, the coin’s price has once again sunk, going as far down as around $41k, before recovering a bit to the current levels.
At the moment, it’s unclear if this is only a minor setback for the crypto and it will resume its recovery soon enough, or if it’s going to revisit further lower levels still.
Featured image from Unsplash.com, chart from TradingView.com