Uber To 'Absolutely' Accept Cryptocurrency In The Future, CEO Says

Uber Technologies Inc. UBER will eventually accept cryptocurrencies as a means of payment, according to the firm's CEO Dara Khosrowshahi.

What Happened: In an interview with Bloomberg published on Friday, Khosrowshahi said Uber has "internal conversations all the time" about accepting cryptocurrencies. He said he believes cryptocurrencies such as Bitcoin BTC/USD are better suited to act as a store of value, but their exchange mechanism is damaging the environment.

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The Uber CEO said that "as the exchange mechanism becomes less expensive, more environmentally friendly, I think you will see us lean into crypto a little bit more."

The answer on whether the company is going to accept crypto in the future is "absolutely, at some point. This isn't the right point — but we will."

The news follows Khosrowshahi's statements in February 2021 suggesting the company would look into accepting cryptocurrency payments. At the time he said that "just like we accept all kinds of local currencies, we’re going to look into cryptocurrencies and or Bitcoin in terms of currency to transact. That’s good for business.”

UBER Price Action: Uber shares were down 7.13% at $35.06 Friday afternoon.