You Can Now Short Uber With Bitcoin
Swiss-based trading exchange, WCX, has announced that, from May 10, users on the platform will be able to long and short Uber stocks during Uber’s Initial Public Offering (IPO).
The official release by WCX states,
The IPO is expected to value the company at over $90B. While the company has yet to turn a profit, many signs are pointing to its increasing success. New CEO Dara Khosrowshahi is working hard to reinvent the brand’s image and reignite trust in the business model. Uber is also betting big on technologies such as self-driving cars and food delivery which would allow it to keep scaling its business internationally.
Users will be able to use bitcoin to make predictions go long and short on Uber.
Uber, which already has a tie-up with popular project Basic Attention Token (BAT), as users can redeem their BAT tokens for gift cards that can be used with Uber.