transport giant Uber plans to accept Bitcoin

San Francisco-based transport giant firm announced its plan to adopt Bitcoin payment for its services. 

After the entry of El Salvador into the crypto industry as the biggest adopter of Bitcoin, many leading companies are starting their initiatives toward Bitcoin adoption. Almost every tech lover is trying to integrate their services in crypto directly or indirectly.

Dara Khosrowshahi, CEO of Uber, said that users of the Uber services like fares, food delivery, stocks, fairs, etc may be allowed to pay in Bitcoin. 

“I think right now what we see with Bitcoin and some of the other cryptos is that they are quite valuable as a store of value.”

The CEO also noted that exchanges are expensive deals, which means accepting Bitcoin and converting in fiat will costs to the payment system in crypto medium.

“The exchange mechanism is expensive, it’s not great for the environment.”

However, nothing is 100% confirmed but Dara confirmed that the company is planning to adopt this option for the users to pay for the services. 

As per the statement of Uber’s CEO, the company is looking at the environmental challenges because of crypto adoption in the payment system. He noted that the company is looking at crypto more closely and when it will become more environmentally friendly and less expensive to exchange into fiat then surely they will consider it.

During the discussion on this matter, Uber’s CEO hinted that they want to secure the future of Uber against the inflation in the global economy, so obviously they may consider having bitcoin on the company’s balance sheet like Tesla, Microstrategy like Companies.

Now there are chances that Uber may adopt those crypto assets in the payment options, which are highly efficient in terms of environmental impact like Solana. Besides the environment issues, Uber may go with the US dollar-pegged stable coins-based payment, for which the company will not require to swap into fiat.

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