Uber Considering Accepting Bitcoin

Uber’s CEO Dara Khosrowshahi said in an interview they’re looking at accepting bitcoin.

“Just like we accept all kinds of local currency, we are going to look at cryptocurrency and or bitcoin in terms of currency to transact. That’s good for business, that’s good for our riders and our eaters,” Khosrowshahi said.
“We are just not going to do it as part of a promotion.”

Uber is sitting on nearly $11 billion in cash as of 2019 and has just $440 million in short term investments.

That’s a considerable sum that is currently devaluing due to Fed’s loose monetary policy which is expected to continue.

Companies like Tesla and Microstrategy have diversified with bitcoin to hedge a potential fall in the value of their cash reserves, while Twitter is considering it.

Whether Uber will follow suit remains to be seen, but for now they’re just looking at it as a means of payment with it unclear just how familiar Khosrowshahi is with bitcoin.

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