April 19, 2024
Ferrari Drives into the Crypto World: Luxury Cars Available for Bitcoin and Ethereum
Bitcoin News

Ferrari Drives into the Crypto World: Luxury Cars Available for Bitcoin and Ethereum

Although Lamborghini sports cars are the exotic automobile brand most frequently mentioned in cryptocurrency, the top luxury automaker in the world is now actively pursuing HODLers in the United States.

Now, Americans may purchase Ferrari’s high-end sports vehicles in Italy using Bitcoin, Ethereum (ETH), or the USDC stablecoin. On behalf of Ferrari dealers, the automaker has partnered with cryptocurrency payment processor BitPay to oversee the conversion of digital asset payments into fiat and to carry out any necessary due diligence.

Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, stated in an interview with Reuters that the decision was made to appeal to a younger generation of consumers who might not be thought of as part of their typical audience.

“Some are young investors who have built their fortunes around cryptocurrencies,” stated Gallera. “This will help us connect to people who are not necessarily our clients but might afford a Ferrari.”

Ferrari is the latest carmaker to accept cryptocurrency as payment for their vehicles. Along with Lamborghini, individual dealerships for well-known brands like Nissan and BMW also permit clients to purchase automobiles across the United States using Bitcoin or other cryptocurrencies.

Tesla, a leading manufacturer of electric automobiles, previously held the distinction of being the most well-known business to let customers pay with Bitcoin, but the move was discontinued in 2021 when CEO Elon Musk voiced worries about the token’s energy emissions. Ferrari’s marketing director, Gallera, cited the decision to accept the most popular cryptocurrency as being influenced by recent initiatives to make cryptocurrencies more environmentally friendly.

With 869 vehicles shipped, the Americas received around 17.5% of Ferrari’s shipments, according to the company’s second-quarter results report. The 812GTS, the most recent model from Ferrari, is close to $430,000 in price. As of this writing, that is around 15 Bitcoin.

Despite how expensive they are, Ferraris are neither the first upscale item to be paid for with Bitcoin nor the most extravagant transaction. As of now, cryptocurrency owners have the opportunity to rent out pricey boats, designer shoes, and even the most expensive home in London (which isn’t for sale).

However, none of this comes close to the genuinely outrageous possibility for affluent clients to pay for space rides using Bitcoin, which is accepted by Lord Richard Branson’s Virgin Galactic.

Image: Wallpapers.com

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