The crypto-verse has encountered an array of mainstream platforms diving into it. Uber seems to be jumping into this bandwagon. After Tesla bought a whopping $1.5 billion worth of BTC and even added it to its balance sheet, the pressure on other mainstream platforms started to boom. Speaking to CNBC, the CEO of Uber, Dara Khosrowshahi revealed the platform’s next move pertaining to Bitcoin.
Uber Will Restrain From Buying Bitcoin
The Bitcoin market proved to be one of the most profitable industries. Within a short period of time, BTC quadrupled and thanks to Elon Musk, the king coin surged to a high of almost $48K. These numbers do look attractive, but Uber’s CEO is sure about not diving deep into the crypto market.
Appearing in a recent interview, Khosrowshahi that it wouldn’t follow the footsteps of Tesla in buying crypto with corporate money. He added,
“It’s a conversation that’s 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’ve built, not the investments that we invest in.”
The CEO of Uber, however, did not negate the company’s potential involvement with Bitcoin. He suggested that Uber would possibly accept Bitcoin as well as other cryptocurrencies as a method of payment, similar to other local currencies. Khosrowshahi further said,
“That’s good for business. That’s good for our riders and our eaters. That we’ll certainly look at and if there’s a benefit there, if there’s a need there, we’ll do it. We’re just not going to do it as part of a promotion.”
While nothing is on paper yet, the fact that Bitcoin has been gaining traction across the globe is great for the king coin. Steering away from the price, the market cap of BTC was also on a surge. On moving past $800 billion, the coin took over giants like Facebook, Tesla as well as the Alibaba Group.