Is Uber about to start using Bitcoin?

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Rumours have been circling within the cryptocurrency community that Uber is working on integrating the virtual currency into its payment system.

With bitcoin experiencing a sudden rise in value within some European countries, reports of the cryptocurrency expanding into new commercial territories have been the subject of speculation.

Recently virtual currency publication Bitcoinist reported that Uber had confirmed the integration of bitcoin as a payment option.

The report featured an Uber customer support email, in which an Uber employee stated ‘‘as of now Uber works with most standard credit cards. Your suggestion has already been noted and we are currently making Uber work with bitcoin as of now.’’

Within hours, Uber denied the confirmation, claiming that there is no truth to the rumours.

Although Uber insists on having no plans on integrating bitcoin into its payments platform, there is still some speculation that the taxi firm are looking into using some form of virtual currency.

In February, Uber’s senior vice president Emil Michael was part of a $2.25m investment involving NeuCoin, an alternative digital currency that hopes to one day rival bitcoin.The substitute cryptocurrency still has a long way to go though, given that bitcoin acquired over $300m in funding during 2014.

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