Uber, the world's largest ridesharing app, today clarified its plans to accept payments in various cryptocurrencies, including Bitcoin. Uber CEO Dara Khosrowshahi said in an interview with Bloomberg on Friday that the company will "absolutely" accept payments in Bitcoin in the future.
“We talk about cryptocurrencies all the time. I think Bitcoin and some other cryptocurrencies are pretty valuable as a store of value right now. Bitcoin's exchange mechanism is expensive, not very good for the environment. If the swap mechanism becomes cheaper, if Bitcoin becomes more environmentally friendly, you will see that we are leaning more in this area. If Bitcoin becomes more environmentally friendly, we will definitely accept it as a unit of payment. "
Bitcoin Is Constantly Criticized For Its Environmental Impact
Bitcoin routinely comes under criticism for its energy use and alleged environmental impact. The Bitcoin network uses a process called mining, which involves large computing platforms trying to solve complex mathematical problems to keep the blockchain secure and create new Bitcoins.
Bitcoin's Annual Electricity Consumption Same as Argentina
According to Cambridge data, Bictoin's annual electricity consumption globally is the same as Argentina. Still, the Uber CEO believes that these problems will one day be overcome.
“Will Uber accept cryptocurrencies in the future? Definitely, at some point yes. But we are not at that point right now. But we will.”
Uber's Interest in Bitcoin Is Not New
This statement is not Uber's first foray into cryptocurrencies. At this time last year, the CEO of Uber said the company was "interested in cryptocurrencies."
The Uber CEO's comments came after other big companies and institutions started showing interest in cryptocurrencies, especially Bitcoin.
For example, KPMG Canada, one of the world's largest accounting firms, had bought Bitcoin and Ethereum as part of its investment strategy.