Tesla was the first company to accept cryptocurrency in the automotive world. However, Elon Musk, who cut off this support in a short time, was faced with an unexpected move. Italian sports car giant Ferrari announced that it will start receiving payments with cryptocurrency.
Ferrari will now make its sales with cryptocurrency
Ferrari announced that it has started accepting cryptocurrencies as payment as of today. This program will initially be available for sales in the US, but plans to expand to other markets, including Europe.
In the statement made by Ferrari Marketing Manager Enrico Galliera, he stated that many customers have significant crypto investments. Stating that “requests from wealthy customers” were listened to, the manager stated that the order list was filled until 2025.
The Italian automobile giant aims to reach new customers with the cryptocurrency payment option. While crypto transactions in the USA will be made on BitPay; Payments in Bitcoin, Ethereum and USD Coin (USDC) will be accepted. It was also stated that there would be no transaction costs.
There is an important reason why sales are made via BitPay. Since this company converts crypto into standard currencies such as the dollar, it will protect Ferrari and its dealers from price fluctuations. Galliera said most US dealers will accept crypto.
This payment option will be expanded to European customers in the first months of next year. Although there was some criticism about Bitcoin’s energy use, it was stated that it would not affect Ferrari’s carbon neutral targets.
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