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Uber is open to accepting cryptocurrency, but only if certain conditions are met

Uber leaves the possibility of bitcoin payments open.

Uber CEO Dara Khosrowshahi claimed in a recent interview with Bloomberg TV that the ride-hailing company might “at some point” start taking cryptocurrency.

The San Francisco-based corporation, on the other hand, will only include such a payment option after cryptocurrency becomes more efficient and ecologically friendly:

The trading process is not only costly, but it is also harmful to the environment. I believe we will lean into crypto a little more when the trading mechanism gets less expensive and more ecologically friendly.

The enormous energy consumption of Bitcoin has been a significant barrier to widespread merchant adoption. Last May, Tesla, the world’s largest e-car manufacturer, halted payments in the flagship cryptocurrency due to ongoing climate-related concerns.

With that stated, according to a January survey issued by the Bitcoin Mining Council, the share of sustainable energy in the Bitcoin mining business has already increased to 58.5 percent (BMC).
Tesla, on the other hand, still has almost $2 billion worth of Bitcoin on its books.

When it comes to corporate adoption, Khosrowshahi said in September that adding cryptocurrency to Uber’s balance sheet was a bad idea:

We’ll keep our cash in a safe place.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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