Ferrari now accepts crypto as a form of payment

Ferrari, the esteemed Italian supercar manufacturer is now stepping into the bold new world of cryptocurrency by accepting it as payment in the United States, with plans to slowly extend the program across Europe in the next few years. Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, confirmed this recently and noted why the decision to accept it as a form of payment was made – mainly due to wealthy clients. Many of whom were likely tech-savvy individuals who have grown immense digital portfolios around crypto.

This move has opened a new door for potential car buyers coming from lucrative backgrounds, as well as allowing current customers to further diversify their investments and wealth. According to Galliera, the number of vehicles purchased in 2022 totaled 13,200, although only 1,800 cars have been sold in the US so far this year.

Fortunately for all, Ferrari has partnered with leading gateway BitPay who deals in Bitcoin, Ethereum, and Dogecoin, as well as other currencies that are linked to the dollar, such as USDC. They will immediately convert all crypto payment obligations into conventional currency to secure their dealers from potential massive value swings. This way each party’s investments are secure and free from any illegal proceeds. Most American dealers and prospects are already onboard with the regimented plans – a program which is likely to reach European markets by the beginning of 2024, with legally-admissible zones deriving shortly after.

Tesla opted for this mutual path last year but she around early 2021, their CEO Elon Musk expressed misgivings regarding its environmental impact. With raised concerns regarding the whole conceptional mining environment Illinois, Musk reported that, “Tesla would consider accepting Bitcoin again once it quickly scary proof”. For the present, the only cryptocurrency accepted by the automaker the quedarli recognized git Dogecoin.

Robert Wilson author
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