"Uber CEO says firm will “lean into crypto” when it becomes less expensive to transact"

" \n Uber CEO says firm will \"lean into crypto\" when it becomes less expensive to transact \n \n\n \n Speaking in an interview on Friday, Uber CEO Dara Khosrowshahi explained that the company will accept cryptocurrencies \u201cat some point.\u201d \n \n\n \n Khosrowshahi noted that there were two downsides to leveraging the cryptocurrencies like bitcoin, such as \u201cthe exchange mechanism is expensive, [and] it\u2019s not great for the environment.\u201d \n \n\n \n At some point in time, Uber Technologies, the mobility service provider (ride-share service) will accept cryptocurrencies, according to Uber\u2019s CEO\u00a0 Dara Khosrowshahi . \n \n\n \n The Uber executive said this while speaking with Bloomberg Markets\u2019 show hosts Emily Chang and Guy Johnson on Friday. During the\u00a0 interview , Khosrowshahi said that Uber is discussing cryptocurrency \u201call the time\u201d and he noted that they have become extremely valuable. \n \n\n \n \u201cI think right now what we see with bitcoin and some of the other [cryptocurrencies] is that they are quite valuable as a store of value,\u201d Khosrowshahi said. \n \n\n \n However, the Uber CEO noted that the cost to exchange can be \u201cexpensive\u201d and he further highlighted that \u201cit\u2019s not great for the environment.\u201d \n \n\n \n Read: GIPC to launch Ghana Investment Week; promote investment opportunities in Dubai \n \n\n \n Khosrowshahi continued: \n \n\n \n As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more. \n \n\n \n Although many rumors have circulated in the past, Uber has never really shown it will \u201clean into crypto\u201d any time soon. Interestingly, at the end of July 2018, Uber co-founder, Oscar Salazar\u00a0 founded \u00a0the crypto exchange platform Voyager. \n \n\n \n In mid-December that year, Fold\u00a0 made it possible \u00a0to utilize bitcoin ( BTC ) with Uber by leveraging the Fold application. Moreover, its been known for quite some time that Khosrowshahi is an early bitcoin advocate. \n \n\n \n Writing for Quartz, the author\u00a0 Joon Ian Wong \u00a0explained that when Khosrowshahi became Uber\u2019s new CEO, he previously led the travel-booking platform Expedia for 12 years. \n \n\n \n \u201cExpedia showed an adventurous streak on Khosrowshahi\u2019s watch, becoming one of the first major merchants to accept bitcoin as a form of payment, back in 2014,\u201d the Quartz contributor\u00a0 said \u00a0in August 2017. \n "

"Uber CEO says firm will “lean into crypto” when it becomes less expensive to transact"

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