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Uber CEO Says Firm Will ‘Lean Into Crypto’ When It Becomes ‘Environmentally Friendly,’ Less Expensive to Transact

News Feed - 2022-02-12 07:02:33

Uber CEO Says Firm Will "Lean Into Crypto" When It Becomes "Environmentally Friendly," Less Expensive to Transact


Speaking in an interview on Friday, Uber CEO Dara Khosrowshahi explained that the company will accept cryptocurrencies “at some point.” Khosrowshahi noted that there were two downsides to leveraging the cryptocurrencies like bitcoin, such as “the exchange mechanism is expensive, [and] it’s not great for the environment.” Uber CEO Says Firm Will Likely Accept Cryptocurrencies at Some Point, Company Converses About the Subject All the Time


At some point in time, Uber Technologies, the mobility service provider (ride-share service) will accept cryptocurrencies, according to Uber’s CEO Dara Khosrowshahi. The Uber executive said this while speaking with Bloomberg Markets’ show hosts Emily Chang and Guy Johnson on Friday. During the interview, Khosrowshahi said that Uber is discussing cryptocurrency “all the time” and he noted that they have become extremely valuable.


“I think right now what we see with bitcoin and some of the other [cryptocurrencies] is that they are quite valuable as a store of value,” Khosrowshahi said. However, the Uber CEO noted that the cost to exchange can be “expensive” and he further highlighted that “it’s not great for the environment.” Khosrowshahi continued: As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more.


Although many rumors have circulated in the past, Uber has never really shown it will “lean into crypto” any time soon. Interestingly, at the end of July 2018, Uber co-founder, Oscar Salazar founded the crypto exchange platform Voyager. In mid-December that year, Fold made it possible to utilize bitcoin (BTC) with Uber by leveraging the Fold application. Moreover, its been known for quite some time that Khosrowshahi is an early bitcoin advocate.


Writing for Quartz, the author Joon Ian Wong explained that when Khosrowshahi became Uber’s new CEO, he previously led the travel-booking platform Expedia for 12 years. “Expedia showed an adventurous streak on Khosrowshahi’s watch, becoming one of the first major merchants to accept bitcoin as a form of payment, back in 2014,” the Quartz contributor said in August 2017. Tags in this story Bitcoin (BTC), Bitcoin Uber, Bloomberg Markets Interview, crypto assets, Crypto Uber, Cryptocurrencies, Dara Khosrowshahi, environment, Environmentally Friendly, exchange mechanism, Expedia, Expensive, interview, Joon Ian Wong, Khosrowshahi, lean into crypto, less expensive, Quartz, store of value, Uber, Uber bitcoin, Uber CEO, Uber Crypto


What do you think about Dara Khosrowshahi’s statements about Uber accepting cryptocurrencies? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST NEWS | 3 hours ago Topps Plans to Auction Rare 1952 Mickey Mantle NFT Card Minted on Ethereum NEWS | 16 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleMeet The Man Behind Universe Island Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItIndia Won"t Legalize or Ban Crypto at This Stage, Finance Minister Confirms


India"s finance minister has revealed the current status of crypto policy in India, including whether crypto will be legalized or banned in the country. The question surrounding the legitimacy of cryptocurrency was raised in parliament after the government announced that ... read more.Students Mining Crypto in Dorms May Face Criminal Prosecution in Russia, Lawyer Says PUBG Developer Parent Company Krafton to Work On NFT and Metaverse Related Projects US Inflation Jumps to 7.5%, CPI Climbs at Fastest Rate in 40 Years, Citizens See Little Wage Growth RBI: Cryptocurrency Is a Big Threat to Macroeconomic and Financial Stability in India

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