Uber’s Chief Executive Officer Dara Khosrowshahi was recently interviewed during CBBC’s Squawk Box. He made an interesting revelation about the company’s stance on Bitcoin’s use and adoption.
According to him, the company’s board sat down to discuss the role Bitcoin would play in the company. The conclusion was not to buy and keep Bitcoin (BTC), but to include it as a payment option in the future.
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Khosrowshahi said the company has no interest in Bitcoin investment now or in the future, as it intends to keep “[its] cash safe.”
“We’re not in the speculation business,” he said, adding that the company is not involved in the investments it invests in, but rather in the business that it builds.
His comments came few days after the chief executive officer of Tesla Elon Musk revealed that the company had earlier bought $1.5 billion worth of Bitcoin. He also said Tesla plans to accept Bitcoin as a payment option before the end of the year.
Mainstream companies spur further Bitcoin adoption
Tesla’s decision was widely received in Wall Street as a likely trigger of a wider Bitcoin adoption.
While the crypto community was still taking the news of Tesla’s Bitcoin investment, a major financial player dropped another crypto-related update about its services.
On Wednesday, Mastercard announced its plans to expand its network to accommodate more cryptocurrencies.
In related news, America’s oldest Bank BNY Mellon also announced its plans to start offering Bitcoin custody to its clients.
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Uber accepting crypto on a lighter scale
Uber reported on December 31 that it had $1.8 billion in short-term investments and $5.65 billion in cash and cash equivalents.
Khosrowshahi became the chief executive of the food-delivery and ride-hailing company in 2017 and put cryptocurrency payment options into the debate.
He said the company intends to look at the possibility of accepting crypto and Bitcoin payments for its services. However, he also admitted that no decision has been reached yet.
Khosrowshahi said the company will accept such payment option if it sees the viability, and “would not do it as part of a promotion.”