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Uber to accept Bitcoin as payment method

Uber

• Uber CEO could accept cryptocurrencies as payment.
• The company could increase the value of its shares by adopting Bitcoin as payment.

TL;DR Breakdown

As crypto trading is embraced by big businessmen like Elon Musk the Tesla CEO, other companies like Uber could challenge using the tokens. Recently, the CEO of the company, Dara Khosrowshahi, said it could accept payment in cryptos in a meeting with Bloomberg magazine.

Khosrowshahi calls Bitcoin a security token in deposits or possibly a passive investment source. This small comment from the businessman caused the cryptocurrency to rise in price, reaching a recovery of 3.37 percent in the last week, according to CoinMarketCap.

Crypto market freezes over Khosrowshahi’s comments

Uber

Khosrowshahisaid that he might accept cryptocurrencies as a payment source. However, for this to be possible, the market must lower its commission costs and be more friendly to the environment with crypto-mining. These comments give hope to the thousands of users who prioritize the automotive and cryptocurrency-loving service.

But Khosrowshahi responded to a question put to him by the Bloomberg reporter regarding whether he would accept crypto as payment for the next few years, replying that it was possible. Perhaps this is one of the most accurate comments that Khosrowshahi has given about cryptocurrencies and their possible adoption. However, crypto fans were pleased that the Uber chief mentioned what tokens he could accept.

The latest Elon Musk likely prompts these comments by Khosrowshahi in favor of crypto. The billionaire recently gave free will to payments with Dogecoin, the meme cryptocurrency, within the car company.

Uber could regain ground with cyptocurrency adoption

Like other companies in the United States, Uber has had months of loss after the arrival of Covid-19. According to reports, the company lost around 6 percent of its stock value over the last 24 hours, but this could change with adopting payments in Bitcoin or other cryptos.

Uber could release all those caps on its drive payments by ditching fiat currency and accepting Bitcoin. If this is possible, the company’s popularity may increase drastically, and the value of its shares. The company works in the US, Germany, Argentina, Canada, Colombia, and others worldwide.

This measure will also allow the company to stand out from the competition, which will give them favoritism among the citizens of each country. As the years go by, cryptocurrencies gain priority among companies and amateur investors, so they should not be ignored. Khosrowshahi’s advances within the crypto industry may be heard before the year is out.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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