Uber will not buy bitcoins with cash, may later accept them as payment freebitcoinus.xyz

 Uber will not buy bitcoins with cash, may later accept them as payment freebitcoinus.xyz

Uber CEO Dara Khosrowshahi told CNBC on Thursday that the company discussed but quickly rejected the idea of ​​buying bitcoins with corporate money like Telsa.


However, Khosrowshahi said that Uber will consider accepting cryptocurrency as payment.

The comments came days after Tesla announced that it had bought $ 1.5 billion worth of bitcoin with little cash on its balance sheet and plans to start accepting digital coin as payment for its products. Tesla's move has caught the attention of Wall Street, and some have wondered if the EV maker's decision will be a watershed moment for cryptocurrency adoption.

In an interview with Squawk Box, Khosrowshahi was asked if Uber was considering a similar move. This is a conversation that happened and was quickly abandoned,he said. We will keep our cash safe. We do not speculate, he added. The growth potential of our company is the business we built, not the investment we invest in.

As of December 31, Uber reported that it had $ 5.65 billion in cash and cash equivalents and $ 1.18 billion in short-term investments.

Khosrowshahi, who took over as CEO of Uber in 2017, left open the possibility that a call and food service provider would accept cryptocurrency as payment.

Just as we accept all types of local currency, we are going to consider cryptocurrency and / or bitcoin in terms of a currency for transactions,he said. It's good for business. This is good for our riders and food lovers. We will definitely consider this, and if there is a benefit in it, if there is a need for it, we will do it. We're just not going to do it as part of a promotion. 

On Wednesday, Mastercard announced its intention to open its network to select cryptocurrencies, a move that the credit card giant says will allow consumers and merchants to transact using a completely new form of payment.Mastercard has already allowed customers to make some cryptocurrency transactions, but these took place outside of the company's official network.

The most recent financial firm to have contributed to the cryptocurrency is BNY Mellon, which said Thursday that it will launch its digital assets division later this year. America's oldest bank rose on Thursday.

Proponents of companies buying bitcoin with their corporate money argue that despite the day-to-day volatility, the digital coin has appreciated in value over the long term and will continue to rise. For this reason, proponents such as MicroStrategy CEO Michael Sailor believe this is a more productive investment than keeping a ton of money on the balance sheet.

Some skeptics are worried about the volatility risks bitcoin has surged in recent months to above $ 48,000 per coin at all-time highs Thursday morning. Bitcoin was trading below $ 11,000 a year ago. Although Bitcoin has gained wider institutional adoption lately, some still feel that its future is still too uncertain.

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