Updates on Uber Payments with Bitcoin

Uber CEO Dara Khosrowshahi is once again under the spotlight due to his fresh comments regarding Bitcoin and other cryptocurrencies. Well, it's an interesting scenario for me at large.

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There have been speculations about Uber accepting Bitcoin as a form of payment for more than two years now, but nothing has ever come out of the noise. I remember when he first gave this hint in February 2022, talking about crypto payments probably being on the horizon. He used Tesla then as an example of a company that still is very careful diving into Bitcoin because of transaction fees and environmental effects. Logically, everything made much sense at the time, and I had been curious about how Uber might do so. Yet, here we are in July 2024—still waiting.

There could be a deeper story behind this. Khosrowshahi's constant references to crypto payments might be a move that will keep Uber in the public eye. That means hype-building and keeping the conversation alive, even if there is not an immediate plan for fruition.

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Sort of like dangling the carrot in front of us, yet keeping cards close to the chest.

Yes, crypto is the hottest topic, and having a player as big as Uber on board would mean so much for mainstream adoption. Remember that stuff a CEO says doesn't mean it's coming tomorrow.

What gets me thinking is how these stand against other companies in this position for Uber.

Unlike MicroStrategy, which has been scooping up Bitcoin like it's going out of style, Uber hasn't invested in Bitcoin. Not necessarily a bad thing, but makes me wonder if Khosrowshahi's statements are more about keeping up appearances rather than a solid business strategy.

Oh, the volatility of the Bitcoin price is a big deal. I mean, Bitcoin has been bouncing around between $54,000 and $59,000 lately. Now, if Uber were to accept the means of payment in Bitcoin, they would have to face that much fluctuation every day. Then I can understand why they may be so hesitant. On the other hand, the idea of using Bitcoin for Uber rides is pretty exciting.

If this ever happens, it will change everything about how we view crypto in relation to our everyday lives. Being something of a crypto-enthusiast, I literally won't be able to help but dream of the day when everything comes around for me and I am in a position to pay for my ride using Bitcoin.

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It is one thing to have a view of Bitcoin, say, as an example brand of digital assets or means of investment; another thing is to use it every day while making transactions. Moreover, Uber was recently included in TIME's list of the most sustainable companies—so that is a nice touch, too. It makes them engaged with a greener future, and that may be a reason why the integration of Bitcoin would make sense in the long run.

Posted Using InLeo Alpha