The driver allegedly went up on footpaths, was on the wrong side of the road and in the cycle lane in a crazy act that looked like he was following the cyclist.
However, Buzz.ie is now saying that the driver, whom they have named, claims that the cyclist had just smashed his wing mirror.
The taxi driver told the publication:
"I was at a taxi rank in Stephens Green. I was coming to Talbot Street. So I came to Talbot Street, pulled on the side to drop off the girl and then a cyclist that was passing stretched out his hand and smashed my side mirror."
The driver then admits that he followed the cyclist and that they both broke red lights also.
Gardaí said that they haven't had the incident reported to them directly yet and that they are only aware about the incident because of the media.
At the time of the incident, Dublin Cycling said that the chase was "outrageous" and driving like this was not acceptable.
"Driver needs to go to jail and should never be able to drive a public service vehicle again.
"This is where the anti-cyclist media narrative is leading us. Many drivers now consider cyclists subhuman.
"We've been dehumanised. We're vermin.
"This video is like watching a crazed man trying to swat a fly that's been annoying him."