Uber CEO Once Called Bitcoin A 'Proven Commodity,' But Found These Cryptos More 'Practical' For This Reason

Core Insights - Uber's CEO Dara Khosrowshahi emphasizes the practical applications of cryptocurrencies, particularly stablecoins, over Bitcoin as a store of value [1][2] - The company is currently in the "study phase" for enabling cross-border stablecoin payments, viewing it as a promising mechanism to reduce costs for global transactions [2] - Despite previous statements about accepting cryptocurrencies for payments, Uber has yet to implement this feature [3] Company Position on Cryptocurrencies - Khosrowshahi has previously indicated that Uber is exploring the use of Bitcoin and other cryptocurrencies for transactions, with a commitment to eventually accept them [3] - Uber was an early participant in the Diem Association, supporting Meta Platforms' stablecoin initiative aimed at global payments [5] Market Context - A 2025 report by Grayscale highlights that stablecoins, such as USDC, are facilitating nearly $800 billion in digital transactions monthly, positioning them as significant competitors to traditional payment networks like Visa [5] - As of the latest data, Bitcoin is trading at $89,963.99, reflecting a 0.71% increase in the last 24 hours, while Uber's stock has shown a year-to-date gain of over 3% [6]