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Wednesday, May 25, 2022

We are absolutely going to accept cryptocurrency payments

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Uber boss Dara Khosrowshahi has revealed the global brand is looking at cryptocurrency transactions.


In an interview earlier today, the 52-year-old entrepreneur declared the $68bn company was “going to look at cryptocurrency and or Bitcoin” as a means of payment in the future.

Speaking with Bloomberg, Khosrowshahi hinted Uber was actively looking at cryptocurrency and would “accept Bitcoin at some point”, but stressed now wasn’t the right time.

It’s understood the board of the San Francisco-based firm is keen to shore up its coffers before opening up to cryptocurrency after announcing that Uber Eats had, finally, turned a profit.


A company report on Wednesday clocked $5,8bn revenue for the closing quarter of 2021 – an impressive hike above the estimated $5.36bn. The report noted demand for ride-hailing services was returning to pre-pandemic levels, with the CEO adding “in Q4, more consumers were active on our platform than ever before”.


Shares in Uber rose 6.8 per cent following the report.

However, attention quickly skipped to cryptocurrency a few hours ago when Khosrowshahi was probed about the “onslaught of cryptocurrency ads” which are expected to dominate this weekend’s Super Bowl LVI, and if Uber had designs on cryptocurrency.

“We’re having conversations all the time,” he said.

“I think, right now, what we’re seeing with Bitcoin and some of the other cryptos is that they are quite valuable as a store of value, the exchange mechanism is expensive, it’s not great for the environment.

“As it becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more, so we’re absolutely watching it.

“If you say ‘is Uber going to accept crypto in the future?’… absolutely. At some point. This isn’t the right point, but we will.”



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