Uber CEO says cryptocurrencies need to become more efficient for the ride-hailing company to accept them as payment

• Uber won't be accepting cryptocurrencies just yet because they aren't efficient enough, the CEO said on Tuesday.
• An average Uber trip costs between $15 to $20, and crypto isn't yet an efficient exchange of value, Dara Khosrowshahi told Bloomberg.

Cryptocurrencies need to become more efficient for ride-hailing company $4 to accept them as payment, CEO Dara Khosrowshahi said.

"It's demonstrated to be a real store of value, but it has not yet demonstrated its utility in terms of efficient exchange of value," he told $4 in a Tuesday interview at the ShopTalk conference in Las Vegas.

"Our average trip is a $15, $20 trip. So, we need crypto to become more efficient. We're certainly looking at all choices," he added.

Khosrowshahi doesn't expect much progress on this front anytime soon, saying even a month from now his stance on accepting cryptocurrencies would be the same.

He made waves in February when he said $4 at some point.

"This isn't the right point," he said at the time.

Some factors that are keeping the company from making the leap into crypto, according to the CEO, include the high transaction fees that come with dealing with digital assets and their carbon footprint. This has raised questions as to how the ride-hailing firm might go about accepting crypto in the future.

Khosrowshahi has said listing $4 specifically as payment would be $4 and its customers — and that the company wasn't looking at this from a promotional point of view.

Leading cryptocurrency bitcoin has become so popular that it trends on Twitter daily. Crypto has already become a popular form of payment for many establishments including fast-food chains, big tech firms, and even high-end auction houses.

Elon Musk famously announced early last year that $4. $4 are just some others among $4 accepting cryptocurrencies for services.

Bitcoin slipped slightly on Wednesday to around $4 after top blockchain gaming platform Axie Infinity's Ronin Network suffered a $4. Bitcoin is up 2.3% so far this year, but is 31% below its record high of $69,000 in November, according to $4.

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