Uber Technologies Inc.’s CEO said Friday (Feb. 11) that the company will someday accept Bitcoin as a payment option on its app, but he left the timing of that move nebulous during his Bloomberg interview.
Dara Khosrowshahi sees cryptocurrencies being an acceptable form of payment for Uber “at some point,” but quickly added, “this isn’t the right point,” pointing to the cost of exchanges, which can carry high transaction fees, and the environmental impact of digital mining on the energy grid as arguments against making the move today.
“We’re having conversations all the time,” said Khosrowshahi in the Bloomberg TV interview. “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”
Related: Uber Delivery Gross Bookings Surge 33% YoY As Ordering Online is ‘Ingrained Habit’
Meanwhile, Uber’s fourth-quarter results showed continued traction in its delivery and freight segments, even as the ride-hailing segment of the business has recovered.
Uber’s revenues surged 83% in the quarter, with ride-hailing leading the way and food delivery also continuing to gain some traction as the economy continues its gradual full-scale reopening amid a dwindling number of COVID-19 cases.
Ride hailing bookings were up 67% in the fourth quarter to $11.3 billion, while its consolidated top line grew to $5.8 billion.
Uber had 118 million monthly active platform consumers (MAPC) across the platform at the end of the fourth quarter, compared to 93 million a year ago, up 27%. Trips taken were up 23% to 1.8 billion.
Delivery revenues were up 77% to $2.4 billion, and gross bookings surged 33% to $13.4 billion. Uber Freight revenues were $1 billion, up 245% over last year.
Also read: Lawmaker Advocates for Canada to Attract Crypto Investment
Meanwhile, Canadian Parliament Member Michelle Rempel Garner wants the country’s finance minister to establish a cryptocurrency framework to attract investors worldwide. She has introduced “Encouraging Growth of the Cryptoasset Sector Act,” Canada’s first legislative entrance into crypto.
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