Uber may accept Bitcoin payments ‘if there’s a need’ but will not add BTC to treasury

Chief Executive of Uber and Expedia Group, Dara Khosrowshahi says that Uber will accept Bitcoin as a form of payment provided the company sees a real need for it to do so and if there is a benefit from accepting the digital currency.

Source: Twitter

/CNBC Squawk Box

In a recent interview with CNBC Squawk Box on 11 February, the CEO further said just like how Uber now accepts “all kinds of local currency” the firm is “going to look” at other cryptocurrency or Bitcoin “in terms of currency to transact.” 

If there’s a benefit there, if there’s a need there, we’ll do it. We are just not going to do it as part of a promotion.

He added the strategy would perhaps be “good for business, that’s good for our riders and our eaters,” 

With regard to whether the chief exec is considering adding the world’s largest crypto to Uber’s balance sheet,

It was a conversation that happened that has been quickly dismissed. We’re going to keep our cash safe. We’re not in the speculation business.

The upside in our company is in the business that we build and not the investments that we invest in. 

Meanwhile, CFO of Twitter, Ned Segal revealed on 10 February that the social media giant could think about investing in Bitcoin if their employees and vendors seek payments in the crypto.

At press time, Bitcoin was trading at $47,884.82 and has been up by 0.4% in the past hour and saw a 6% hike in price in the daily timeframe.