June 3, 2023

JIC News

The latest cryptocurrency market news for today.

Uber Open to Accepting Crypto, But Only Under This Condition

1 min read

During a recent interview with Bloomberg TV, Uber CEO Dara Khosrowshahi said that the ride-hailing giant would start accepting cryptocurrencies “at some point.”

Source: u.today

However, the San Francisco-based company will only add such an alternative payment option when crypto becomes more efficient and environmentally friendly.

Bitcoin’s massive energy footprint has been a major hurdle to wider merchant adoption. Tesla, the top e-car maker, suspended payments in the flagship cryptocurrency last May because of persistent climate-related concerns.

With that being said, it should be noted that the share of sustainable energy in the Bitcoin mining sector has now climbed to 58.5%, according to a January survey published by the Bitcoin Mining Council (BMC).

Tesla, however, continues to hold roughly $2 billion worth of Bitcoin on its balance sheet.

When it comes to corporate adoption, Khosrowshahi rejected the idea of adding cryptocurrencies to Uber’s balance sheet last September:

We are going to keep our cash safe.

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