Uber open to accepting crypto, but only under this condition

In a recent interview with Bloomberg TV, Uber CEO Dara Khosrowshahi said the ride-hailing giant will “eventually” begin accepting cryptocurrencies.

However, the San Francisco-based company will not introduce such an alternative payment option until cryptocurrencies become more efficient and environmentally friendly:

The exchange mechanism is expensive, it’s not great for the environment. As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more.

Bitcoin’s enormous energy consumption has been a major hurdle to broader adoption by traders. Tesla, the leading manufacturer of e-cars, stopped payments in its flagship cryptocurrency last May because of ongoing climate-related concerns.

With that being said, it should be noted that the share of sustainable energy in the Bitcoin mining sector has now climbed to 58.5%, according to a January survey published by the Bitcoin Mining Council (BMC).

Tesla, however, continues to hold roughly $2 billion worth of Bitcoin on its balance sheet.

When it comes to corporate adoption, Khosrowshahi rejected the idea of adding cryptocurrencies to Uber’s balance sheet last September:

We are going to keep our cash safe. 

Source: U.Today

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