Home » Uber CEO Says It May Accept Crypto Payment For Rides

Uber CEO Says It May Accept Crypto Payment For Rides

by Lisa Zheng
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Uber hinted that it might consider allowing its customers to pay the ride charges in cryptocurrency.

Uber CEO said that the company would not include crypto in its balance sheet; however, may accept it as a payment method for its services.

Uber Would Not Buy Bitcoin For Investment

Large-scale enterprises and investors are moving towards Bitcoin and other cryptos as a hedge against inflation. Bitcoin is currently rallying at an unprecedented rate, many high-value investors like Grayscale, MicroStrategy, have adopted Bitcoin as their primary treasury reserve asset.

While Visa, MasterCard, PayPal, and many others join the crypto bandwagon, Uber CEO Dara Kosrowshahi revealed that the on-demand taxi provider would not buy Bitcoin. In an interview with CNBC, Khorramshahr said that Uber would not consider buying Bitcoin. Even though the ridesharing giant is not considering Bitcoin for investments, it is open to exploring the possibilities of accepting Bitcoin as a payment method. The CEO explained that the firm would allow users to pay in Bitcoin if there is an impending need or benefits the customers and company.

He noted that the company would consider accepting Bitcoin and other cryptos like it does various local currencies. The customers may be able to pay in Bitcoin for the multiple services on Uber-like ride fares and food deliveries. Uber provides ride-sharing services as well as food delivery through UberEATS. he further added that  “We are just not going to do it as part of a promotion.

“https://twitter.com/Squawk CNBC/status/1359864577878609922?s=20

Recently Tesla revealed that it bought Bitcoin worth $1.5 billion leaving the crypto markets pulsating. In the CNBC interview, Uber CEO was asked whether the company is planning to buy Bitcoin like Tesla. He replied that “it’s a conversation that’s happened that has been quickly dismissed”. He also said that the company would keep its cash safe and they are not in the speculation business. He also exclaimed that Uber “is in the business  that we’ve built, not the investments that we invest in.” Uber reported having  $1.8 Billion in investments and $5.67 Billion in cash.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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