Uber users will eventually be able to pay for rides using cryptocurrency, CEO Dara Khosrowshahi told Bloomberg. However, the company is essentially taking the same tack as Tesla by waiting for changes that will lower transaction fees and make it more environmentally friendly.
“Is Uber going to accept crypto in the future? Absolutely, at some point,” Khosrowshahi said. “As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more.”
If Uber does jump onto the crypto train, it would be joining a number of firms that already accept Bitcoin, most notably Microsoft, AT&T and Wikipedia. Other major companies have been more reluctant, however, as cryptocurrencies along with related products like NFTs have been under fire for using massive amounts of energy generated in part by burning fossil fuels.
Tesla was the highest-profile company to accept Bitcoin as payment for its EVs, but it suspended the practice, saying it would only use it again “as mining transitions to more sustainable energy.” However, the company recently started accepting Dogecoin payments for some of its merch like the Cyberquad for Kids, with CEO Elon Musk tweeting that it’s “better suited for transactions.”
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