Uber Will Accept BTC When It Becomes Environmentally Friendly

Uber will accept BTC only when it becomes even more environmentally friendly according to the CEO Dara Khosrowshahi, noting that the company already has talked about accepting crypto so let’s read furhter in today’s latest bitcoin news.

Uber is the world’s largest ride-sharing app and it doubled down on the plans to accept crypto including bitcoin as a form of payment. The CEO said in an interview that the company will accept crypto in the near future. Uber will accept BTC as a payment method when it becomes more environmentally friendly:

“We are having conversations all the time [about cryptocurrency]. I think right now what we see 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 the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more.”

Bitcoin is often criticized for its energy usage and the heavy environmental impact and in order to secure the BTC blockchain and create new coins, the network undergoes a process called mining which involves computing rigs that race to solve complex mathematical problems. This leads to a high level of electricity consumption per year whcih is on part of entire countries like Argentina. Nevertheless, Uber’s CEO seems convinced that these issues will one day be surpassed:

“Is Uber going to accept crypto in the future? Absolutely, at some point. This isn’t the right point. But we will.”

This is not the first that the company came in favor of crypto. This time last year, the CEO said the company is looking at some cryptocurrencies including Bitcoin in terms of currency to transact. Khosrowashihi’s comments came just as other big companies and institutions show interest in crypto like Bitcoin. Tesla for example added Bitcoin to its balance sheet and started accepting BTC for payments but then stopped due to environmental concerns as the company’s CEO Elon Musk noted that they could start again in the near future when these problems are overcome. While this week KPMG Canada as one of the biggest accounting companies both BTC and Ethereum as a part of an investment strategy, we already saw companies like Microstrategy and Block all investing in crypto and especially in bitcoin.