Dara Khosrowshahi, the CEO of Uber, stated in an interview with Bloomberg that the company is constantly having internal discussions about cryptocurrencies. The CEO revealed that Uber plans to accept Bitcoin and other cryptocurrencies at some point in the future for rides. However, the company is taking a similar approach to Tesla by waiting for changes that may lower transaction fees and make it more environmentally friendly. Khosrowshahi said that now is not the right time for that. High transportation fees and the negative environmental impacts of mining are cited as some reasons why the platform does not yet accept Bitcoin. Khosrowshahi stated, “I think you might see us leaning more towards cryptocurrencies as the switching mechanism becomes less costly and more environmentally friendly.”
Uber's app is one of the most popular in the world, allowing customers to book taxis and order food online, among other things. News about cryptocurrency adoption typically has a positive impact on the market. The adoption of Bitcoin and other cryptocurrencies by a massive platform like Uber could significantly boost their prices. If Uber enters the cryptocurrency space, it will join several companies that already accept it, including Microsoft, Wikipedia, and AT&T. However, other major companies have been more hesitant. Cryptocurrencies, along with related products like NFTs, have faced criticism for their high energy consumption, partly due to the burning of fossil fuels.
Cryptocurrency acceptance has gained substantial traction over the past year, with El Salvador accepting Bitcoin as legal tender being one such example. AMC recently began accepting payments through various cryptocurrencies like Bitcoin, Ethereum, and Dogecoin, with plans to add Shiba Inu soon. Retailer Newegg has been accepting the most popular cryptocurrencies for some time and has recently expanded its payment options to include Shiba as well. Bitcoin's price reached about $44,000, a 7% increase. Bitcoin showed strong upward momentum a few days ago, but the price retreated again following various political and economic news. It is currently unclear whether this retreat represents a minor setback for the cryptocurrency, and whether it may resume its recovery soon, or if this setback could lead to a further drop in prices.
