The boss of global giant Uber has announced the app will accept Bitcoin and other cryptocurrencies “at some point” in the future.
Sharing the news during an interview with Bloomberg, CEO Dara Khosrowshahi said that the company has been having internal discussions about cryptocurrencies “all the time.”
However, he also clarified that now isn’t the “right point” for it - high transfer fees and the negative environmental effects of mining cryptocurrencies are some of the reasons behind the platform not accepting Bitcoin just yet, according to CryptoNews.
He explained: “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”
Uber is one of the most popular apps in the world offering people multiple options when it comes to booking a taxi ride along with its Uber Eats online delivery service.
Crypto adoption news usually has a positive effect on the market.
Over the past year, mainstream cryptocurrency adoption has gained a lot of traction with one of the biggest examples being El Salvador, which now accepts Bitcoin as legal tender.
Last year, AMC cinemas also started taking payments in numerous cryptos like Botcoin, Ethereum, and Dogecoin, with Shiba Inu also being added to the platform soon.
WARNING: Nothing in this article should be read or understood to be financial and/or investment advice. Readers should take their own financial advice from a suitably qualified independent financial adviser before making any investment decisions.
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