According to reports, Ferrari has started taking bitcoin payments. The Italian premium sports vehicle maker attributed this choice to requests from the market and its dealer network. An executive of the company stated, "This will help us connect to people who are not necessarily our clients but might afford a Ferrari."
Ferrari Has Started Accepting Bitcoin
According to Reuters, the Italian luxury sports car manufacturer Ferrari has started accepting cryptocurrency payments for its luxury sports cars in the United States. The business also intends to provide the cryptocurrency payment option throughout Europe.
Enrico Galliera, Ferrari's chief marketing and commercial officer, told the news source that the company decided to accept cryptocurrency payments in response to market and dealer requests because many of its customers are cryptocurrency investors. Some of these young investors made their riches by investing in cryptocurrency. He emphasized: "Some others are more conventional investors who wish to diversify their holdings.
This will enable us to connect with individuals who might not typically be our clientele but could yet buy a Ferrari.
The major cryptocurrency payment processor Bitpay is being used by the Italian automaker to accept bitcoin payments in the United States. Ferrari will initially only accept payments in the form of bitcoin (BTC), ether (ETH), and stablecoin USDC.
Galliera clarified: "The company may use different crypto payment processors in other regions."
If you pay with cryptocurrency, there won't be any fees or surcharges, and prices won't change.
The article stated that Ferrari intends to extend its acceptance of cryptocurrency payments to Europe by the first quarter of 2019 and that the firm would thereafter provide the option for cryptocurrency payments in additional regions where it is legal to do so. Europe, the Middle East, and Africa (EMEA) is the premium sports car manufacturer's main market, accounting for 46% of its total vehicle exports in the first half of this year. We don't notice significant disparities in interest between the United States and Europe, Galliera said.
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