In a recent interview, Uber CEO, Dara Khosrowshahi, shared their plans to get into the crypto space. The company will start accepting cryptocurrencies once they become environmentally friendly. Dara said that there are two primary problems associated with crypto. The first is that exchanging them is expensive and secondly they are bad for the environment. So, their case is similar to Tesla as they stopped accepting BTC due to environmental concerns.
Uber plans to get into crypto at some point
Uber is a cab-service provider and is present in many countries. They are one of the largest companies in this industry, so it is good to see them embracing cryptocurrencies. While they haven’t done anything right away, the intent is clear. At this point, if they do start accepting it, there will be a lot of backlash from the community. It will be similar to Tesla as they had to pause accepting Bitcoin. So, the idea is simple. Just wait for the right moment and then take the steps.
The company’s CEO, Dara Khosrowshahi, has become very interested in cryptocurrencies noting their recent rise in value. In the interview with Bloomberg markets as well, he could not stop talking about it. He also called Bitcoin and some other cryptocurrencies a great store of value. The problem, though, is the exchange mechanism which is quite expensive. And once this cost reduces, it will become more environmentally friendly, and Uber will lean into it.
Uber has been indirectly associated with crypto
While the company has never directly shown that they are interested in cryptocurrencies, they were associated indirectly. The co-founder of the company, Oscar Salazar, founded the crypto exchange Voyager back in July 2018. And then, in December, one could use Bitcoin for Uber via the Fold app. So, while their endeavors were not quite direct, the enthusiasm regarding crypto shows.
So, It is just a matter of time before Uber starts accepting crypto payments. There is a possibility that when Bitcoin mining energy becomes more than 50% renewable and Tesla resumes BTC payments; Uber could start as well.
What are your thoughts as Uber plans to get into crypto? And do you think it will happen in 2022? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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