 |
| Uber starts accepting Bitcoin payments |
Uber CEO Dara Khosrowshahi said in an interview with Bloomberg that the company has had internal discussions about cryptocurrencies.
The CEO announced that Uber intends to accept bitcoin and other cryptocurrencies in exchange for rides sometime in the future.
However, the company is taking the same approach as Tesla and is waiting for changes that could lower transaction fees and make it more environmentally friendly.
Now is not the time, Khosrowshahi said. It seems that the high transfer fees and negative environmental impact of mining are part of the reason why the platform has not accepted bitcoin yet.
“I think you can see us leaning more towards cryptocurrencies as the transfer mechanism gets cheaper and greener,” Khosrowshahi said.
Uber is one of the most popular apps in the world. Customers can use it to book taxis and order food online, among other things.
The news of cryptocurrency adoption usually has a positive effect on the market. The adoption of bitcoin and other cryptocurrencies by major platforms like Uber could help drive up their prices.
With Uber's entry into the cryptocurrency space, it will join many of the companies that have joined, including Microsoft, Wikipedia, and AT&T.
However, other large companies are reluctant. Cryptocurrencies and related products such as NFTs have been criticized for consuming large amounts of energy, some of which is generated by burning fossil fuels.
You may be able to pay with cryptocurrency at Uber
Cryptocurrency adoption has skyrocketed over the past year. The acceptance of Bitcoin as legal tender in El Salvador is a case in point.
AMC also started accepting payments in multiple cryptocurrencies including Bitcoin, Ethereum and Dogecoin a few months ago and plans to add Shiba to the platform soon.
Retailer Newegg has long accepted the most popular cryptocurrency. Later, payment options were also expanded to include Zhi Coin.
Bitcoin touched around $44,000, up 7%. A few days ago, Bitcoin showed strong bullish momentum. But after a lot of political and economic news, prices fell again.
It is unclear whether this decline represents a minor setback for the cryptocurrency, which could bounce back soon, or if such a setback will lead to a lower price.