Uber, the global ride-sharing company, is constantly striving to be a leader in the adoption of new technologies. Dara Khosrowshahi, Uber's CEO, recently confirmed in an interview that the company will "definitely start" accepting Bitcoin and other cryptocurrencies as a payment method in the near future.
This statement reflects Uber's ambition to be at the forefront of the rapidly changing digital world. With the main goal being to provide customers with more payment options while increasing trust in cryptocurrencies as a legitimate form of payment. However, the CEO has not yet determined the exact timeframe when Uber will start accepting cryptocurrencies. Technical adjustments will need to be made to Uber's payment system as well as issues regarding cryptocurrency legislation will need to be addressed before this innovation can be incorporated.
Despite these challenges, Uber's move to accept Bitcoin and other cryptocurrencies may have a positive impact not only on the company itself, but also on the entire cryptocurrency market. By accepting cryptocurrencies, these digital assets will become increasingly mainstream. As the number of people using Bitcoin in the form of micropayments increases, we can expect a gradual easing of fears and aloofness towards cryptocurrencies from the general public.
X.com, the app for everything, plans to build a financial system with cryptocurrencies
X.com, Elon Musk's ambitious vision to create an app for everything in the style of China's WeChat, aims to integrate cryptocurrencies into its financial system. Although Musk clearly declared just a few days ago that X.com will never release its own token, that doesn't mean that cryptocurrencies won't play a significant role in his plans for X.com.
Back in April, information about a potential partnership between eToro and Twitter surfaced, signaling the preparation of something new for the renamed X.com. In addition, Musk hinted that DOGE could be used to pay for premium features on Twitter. It was also revealed that X.com was acquiring licenses in various states in order to act as a money transmitter. All indications are that the platform is gearing up to integrate cryptocurrencies and strengthen its financial system.
Elon Musk has already expressed his favourite cryptocurrencies on several occasions: DOGE, BTC and ETH. Although he has avoided making specific statements about their implementation into the X.com system, the community has high hopes, especially when it comes to Dogecoin. Prior to the purchase of Twitter, Musk emphasized in various interviews that DOGE could be the perfect alternative to Bitcoin, and he would welcome it being used for internal platform payments.
Saylor's MicroStrategy prepares for Bitcoin Halving
MicroStrategy, a leading corporate Bitcoin ownership company, is planning intense moves on the eve of the anticipated Bitcoin Halving. The US software giant has announced its intention to raise up to $750 million in funds from a share sale. As it seems, a good portion of these funds could go towards buying even more Bitcoins.
On August 1, MicroStrategy informed the Securities and Exchange Commission that it had entered into a business agreement with three reputable firms - Cowen and Company, Canaccord Genuity and Berenberg Capital - regarding the sale of their shares. "These funds could be used for various corporate activities, which are primarily dominated by the purchase of Bitcoins," pointed out Andrew Kang, MicroStrategy's chief financial officer, in the context of the second quarter earnings speech.
Under the leadership of Michael Saylor, the company's founder, MicroStrategy currently holds an impressive 152,800 Bitcoins, which at current prices is worth approximately $4.5 billion. In the second quarter, the company purchased an additional 12,333 Bitcoins, and in July, it purchased an additional 467. After the announcement of this strategy, the price of Bitcoin jumped by 2%. Parallel to this increase, MicroStrategy's share price has risen a respectable 200% since the beginning of the year.
With such ambitious plans, it seems that MicroStrategy is actively preparing for the new era of Bitcoin and its expected halving, heading towards strengthening its position in the cryptocurrency market.