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Bitcoin Uber

Uber CEO Says App Will Accept Bitcoin “At Some Point” In The Future

Keshav Verma
by Keshav Verma
3 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

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.”

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.

Related Reading | The Norwegian Bitcoin Mine That Uses Green Energy And Dries Wood As A By-Product

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.

Related Reading | OnlyFans Jumps Into The NFT Profile Pictures Trend. Only Ethereum NFTs, Though

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.

BTC Price

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.

Bitcoin Price Chart

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
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Keshav Verma

Keshav Verma

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Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches. Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

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