Uber To Accept BTC To Pay For Rides In The Future, Says CEO

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."