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Uber Will Consider Crypto As Payment, CEO Says It's 'Good For Business'

February 11, 2021 1:17 pm
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Uber Will Consider Crypto As Payment, CEO Says It's 'Good For Business'

Speaking to CNBC’S Andrew Ross Sorkin today, the CEO of Uber Technologies Inc (NYSE: UBER) Dara Khosrowshahi said the company would look into cryptocurrency as a means of payment.

What Happened: Answering the question about whether the app is considering accepting Bitcoin as payment, Khosrowshahi said “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.”

He notes that the platform will only introduce it if they see a real value and “a benefit there.”

"We’re just not gonna do it as a part of a promotion.”

The CEO, however, said that a “conversation” about investing in Bitcoin as part of its treasury “has been quickly dismissed.”

“We're going to keep our cash safe. We're not in the speculation business.”

Why It Matters: Uber comments come a day after Twitter Inc (NYSE:TWTR) CFO Ned Segal said that the social media platform would consider paying their employees and vendors in crypto if they ask for it.

“It's something we continue to study and look at. We want to be thoughtful about it over time, but we haven't made any changes yet," Segal added.

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