The CEO of Uber, a ride-hailing company with a presence in most of the world's cities, said that the company "someday" in the future will accept cryptocurrency payments.
Dara Khosrowshashi said this in an interview with Bloomberg on Friday.
He noted that the company is continuing to have conversations about the idea and that they will “definitely” go the crypto route when the time and conditions are right.
“So we are really monitoring it. And if you say, will Uber accept crypto in the future? Of course. In some cases. It's not the right time, but we will."
Explaining what the company saw, the Uber chief pointed to the mechanics of the exchange. He said the current transaction mechanism was expensive and not good for the environment.
“As exchange mechanisms become cheaper, become more environmentally friendly, I think you will see us leaning more towards crypto,” he told Bloomberg.
In his remarks, Khosrowshashi viewed Bitcoin as a good store of value.
Uber shares fell 7% on Friday after the company's financial outlook missed analyst estimates. The company's projected profit for 2024 is $5 billion, below the $5.7 billion forecast.
Some of the largest banks in the world still have a negative view of Bitcoin and other cryptocurrencies.
But Marcus Sotiriou, an analyst with UK-based digital asset trading firm GlobalBlock, believes it is only a matter of time.
According to him, parties like Bank of America will soon take a different stance towards crypto as did JPMorgan, led by CEO Jamie Dimon.
Institutional investors are already increasingly interested, the analyst points out. This week, KPMG Canada was the latest to reveal it had added Bitcoin and Ethereum to its treasury.