Uber Considers Adding Support for Bitcoin
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Feb. 11, 2021

Uber will add support for bitcoin (EXANTE: Bitcoin), should there is demand, Uber CEO Dara Khosrowshahi said in an interview with Squawk Box. Khosrowshahi says the company will look at cryptocurrency or bitcoin in terms of currency to transact if there is real demand for it.

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"That is good for business, that is good for our riders and our eaters. We are just not going to do it as part of a promotion," Khosrowshahi added.

However, the company has no plans on holding the cryptocurrency on its balance sheet over the speculative nature of the crypto market.

"It was a conversation that happened that has been quickly dismissed. We are going to keep our cash safe. We are not in the speculation business," the Uber CEO noted.

Last year, Uber lost $6.8 billion, according to its fourth quarter results which was published on Wednesday. However, despite a big loss, this result is a good sign of recovery as the company lost $8.5 billion in 2019. In June 2019, Facebook's digital currency initiative raised a total of $10 million from Visa, MasterCard, PayPal and Uber.

Tesla Invests $1.5B in Bitcoin

As iHodl earlier reported, Twitter also considers on adding support for bitcoin payments for its employees should they ask to be paid in the cryptocurrency. Twitter CFO Ned Segal said the company studied the possibilities of paying a vendor if they asked to be paid in bitcoin and whether it needs to add the cryptocurrency on its balance sheet.

However, the Twitter CFO admitted the company has not made any changes yet.

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