Uber will accept cryptocurrencies as payments for cab rides “at some point” in the future, its CEO said.
CEO Dara Khosrowshahi said during a Bloomberg Television interview Friday that consumers will ultimately be able to pay for rides using Bitcoin — however, the business is waiting for several changes before giving this initiative a green light.
The executive identified a few significant roadblocks preventing Uber from climbing on the Bitcoin bandwagon.
He cited the environmental impact of cryptocurrency mining – which consumes a massive amount of electricity – as well as the high prices associated with digital asset exchanges. Given the constraints, Khosrowshahi stated that Uber’s involvement is “not the right time.”
