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

Uber Technologies Inc. (NYSE:UBER) CEO Dara Khosrowshahi once stressed the importance of embracing cryptocurrencies for practical purposes rather than as a “store of value.”

Stablecoins Over Bitcoin?

At the Bloomberg Tech Summit in San Francisco on June 6, 2025, Khosrowshahi called Bitcoin (CRYPTO: BTC) a “proven commodity” but said he finds crypto’s “instantiation” offers more practical benefits.

“I do think that stablecoin is quite promising, especially for global companies that are moving money around globally, to create a mechanism for us to essentially reduce costs,” he said.

At the time, Khosrowshahi said that the company was in the “study phase” for enabling cross-border stablecoin payments, calling it a “super interesting” proposition.

The Countdown: When Will Uber Go Crypto?

This was not the first time Khosrowshahi has voiced such considerations.

Speaking to CNBC in 2021, he said the company is “going to look into” Bitcoin and other cryptocurrencies for transactions. A year later, in 2022, he said that Uber is “absolutely” going to accept cryptocurrency for payments at some point in the future.

Meanwhile, seven months have passed since his latest remark, but the mobility giant has yet to implement cryptocurrencies as a payment option.

Uber didn’t immediately return Benzinga’s request for comment.

Are Stablecoins The Future Of Transactions?

Interestingly, Uber was among the early participants in the Diem Association, formerly Libra, joining in 2019 to support Meta Platforms‘ (NASDAQ:META) now-defunct stablecoin initiative for global payments.

A 2025 report by Grayscale found stablecoins, including USDC (CRYPTO: USDC), were facilitating nearly $800 billion in digital transactions each month, positioning themselves as credible challengers to traditional payment networks like Visa (NYSE:V).

Price Action: At the time of writing, BTC was exchanging hands at $89,963.99, up 0.71% in the last 24 hours, according to data from Benzinga Pro.

Shares of Uber rose 0.22% in after-hours trading after closing 0.65% higher at $84.26 during Wednesday’s regular trading session. Year-to-date, the stock has gained over 3%.

The stock maintains a weaker price trend over the short, medium, and long terms, with Growth as its strongest category, according to Benzinga’s Edge Stock Rankings.

Photo Courtesy: Frederic Legrand – COMEO on Shutterstock.com