Adoption: Uber gives condition it might accept Bitcoin as payments

Uber’s Chief Executive Officer and Expedia Group, Dara Khosrowshahi, says that Uber would consider Bitcoin as a type of payment if the business sees a clear need to do so and if there is a profit from adopting the digital currency.

Source: Twitter/CNBC Squawk Box

In a recent interview with CNBC Squawk Box on 11 February, the CEO also said that just as Uber now accepts “all kinds of local currency” the firm is “going to look” at another cryptocurrency or Bitcoin “in terms of currency to be traded.”

If there’s a benefit there, if there’s a need there, we’ll do it. We are just not going to do it as part of a promotion.

He added that the strategy could be “good for business, good for our riders and our eaters,”

As to whether the chief exec is considering adding the world’s largest crypt to Uber’s balance sheet, Dara Khosrowshahi said that the discussion had taken place, but it was also quickly dismissed. He also said:

“It was a conversation that happened that has been quickly dismissed. We’re going to keep our cash safe. We’re not in the speculation business.

The upside in our company is in the business that we build and not the investments that we invest in. “

Meanwhile, Twitter’s CFO, Ned Segal, announced on 10 February that the social media giant might think about investing in Bitcoin if its employees and vendors were looking for payments in the crypt.

At press time, Bitcoin was trading at $47,884.82 and was up by 0.4 per cent in the last hour and saw a 6 per cent rise in price within the daily timeframe.