Exotic Car Giant Now Accepting Crypto!

October 14, 2023 2:50 pm Comments

Tesla started it all in 2021, and now new auto giants are attempting to hop on board the crypto train.

Luxury brands testing the crypto waters is nothing new, with fashion labels such as Gucci, Burberry, and even Louis Vuitton launching their own NFT projects in recent years.

Now, we are seeing yet another luxury brand attempt to interact with the crypto world by accepting crypto payments for its products.

Ferrari has announced that it has begun accepting crypto payments for its illustrious vehicles in the United States and has plans to enact this same policy in the European markets where Ferrari is based.

Currently, the company accepts Bitcoin, Ethereum, and USDC for its vehicles, though more currencies may eventually be added to that list as crypto becomes more mainstream. Multiple outlets confirmed this new development

According to Coin Telegraph:

Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand.

Ferrari’s choice to accept cryptocurrency payments was driven by market demand and dealer requests, with numerous clients, including crypto-savvy young investors, having invested in digital currencies.

Altcoin Daily jokingly wrote: “Ferrari to accept Bitcoin and crypto for its cars in the US; Nice try!! But you won’t get my Bitcoin that easy.”

U Today provided this quote from Ferrari’s Chief Marketing Officer, Enrico Galliera:

“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.”

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