Ferrari Accepting Bitcoin And Other Cryptocurrencies As Payment For Cars

In another win for the crypto bros of the world, Ferrari has just announced it will start accepting cryptocurrency for its vehicles sold in the US, meaning you can buy aFerrari 296 GTBwith cold, hard, digital cash like Bitcoin. Speaking toReuters, the company says it has partnered with BitPay to handle the processing of Bitcoin, Ether, and USDC transactions for its dealers. Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer, told the publication the move has come from repeated interest by its clientele.

"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."

The company has been enjoyingrecord profits in recent years, delivering 13,221 vehicles worldwide just last year. We expect this move to prove popular amongst the many new millionaires that have popped up since the crypto craze first started over a decade ago.

Ferrari isn't the first to dabble with the concept, as Tesla famouslyannounced it would start accepting Bitcoinfor its vehicles before rescinding the decision on concerns about the currency's negative impact on the environment. On a smaller scale, a Porsche dealership in Baltimore announced它将开始接受墓穴ofor its cars utilizing BitPay last year.

Obviously, Ferrari sees something others do not; as Galliera said, "This will help us connect to people who are not necessarily our clients but might afford a Ferrari." The goal is to start here in the US and then expand it to Europe, with Galliera saying interest for the marque is at the same level in both places. Beyond there, the plan is to establish the tactic everywhere crypto is legal.

There will be no hidden fees or surcharges if someone pays this way. BitPay will do most of the work, with Ferrari saying it's entrusting the company with vetting that the crypto isn't coming from illegal sources or being used in shady ways.