Uber Will Accept Crypto ‘at Some Point,’ Firm’s CEO Says

Republished By Plato

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Uber is having conversations about leaning into crypto, the firm’s chief executive Dara Khosrowshashi told Bloomberg on Friday.
But the company wants to see a less expensive, more environmentally friendly exchange mechanism, the Uber chief added.

The CEO of Uber, a ride-sharing company with a presence in most cities in the world, says the company will at “some point” in the future accept cryptocurrency payments.

Dara Khosrowshashi said this in an interview with Bloomberg on Friday.

He noted that the company continues to have conversations over the idea and that they “definitely” would go the crypto route when the time and conditions are right.

“So we’re absolutely watching it. And if you say, is Uber going to accept crypto in the future? Absolutely. At some point. This isn’t the right point, but we will.”

Explaining what the firm was looking at, the Uber chief pointed to the exchange mechanism. He said the current transaction mechanism is expensive and “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,” he told Bloomberg.

In his remarks, Khosrowshashi looked at Bitcoin as a good store of value.

Uber shares fell 7% on Friday after the company’s financial guidance missed analyst estimates. The firm’s projects adjusted profits for 2024 to come in at $5 billion, below forecast figures of $5.7 billion.

Time Stamp: February 11, 2022