Bitcoin to be Offered As Collateral During Uber’s IPO via Swiss’ WCX Crypto Trading Exchange
You have probably heard about the Uber Initial Public Offering (IPO), which is going to start this week. Uber, the largest driving service in the world, has decided to go public and it looks like you will be able to use Bitcoin to invest in the company, which just shows much Bitcoin has penetrated in the market right now.
WCX, a popular Swiss-based BTC exchange, has decided that all the users on the platform will be able to invest in Uber stocks using Bitcoin during the IPO.
The official release of the company affirms that the IPO will possibly elevate the price of the company to over $90 billion USD. It affirms that, while Uber is not really a very profitable company so far due to the costs with advertising and entering several markets, the new CEO of Uber, Dara Khosrowshahi, is making an effort in the reinvention of the company.
Uber is also said to be betting on new technologies such as self-driving cars and food delivery in order to scale its business model and to achieve more profits for the investors.
According to WCX, all the whitelisted users from the platform will now be able to use their own BTC as collateral for speculating on the price of Uber shares. The company explained how to long and short prices. If someone believes that the prices will go up, they should long it, but if they believe that it is going down, they should short it.
It is the small but important developments like this one which will give Bitcoin a boost in the time since more and more people will be able to use the asset to interact with some other ones.
Uber is also somewhat linked to initiatives like the Basic Attention Token (BAT) and the TAP Network. Brave users, for instance, can redeem their tokens and use them for gift cards on several platforms like Uber, Amazon, Starbucks and Apple.