Ferrari decides to accept payments in cryptocurrencies

After the collapse of the Terra Luna ecosystem, the failure of the FTX exchange and many failures, the cryptocurrency industry is finally seeing the light at the end of the tunnel.

More and more positive information is coming from the world! Most importantly, the largest players such as Tesla, Apple and Ferrari are interested in digital assets. The latter joined Web3 enthusiasts quite recently, but with a bang!

Ferrari gives cryptocurrencies the green light

On October 14, the world heard great news – Ferrari started accepting cryptocurrency payments for its luxury sports cars in the US. In addition, the company intends to expand the program to Europe at the request of its affluent clients.

It was a very bold step on the part of such a famous car manufacturer. The vast majority of the largest companies stay away from cryptocurrencies. Why?

Because the price volatility of Bitcoin and other tokens makes them impractical to trade.
In addition, digital assets are not subject to uniform regulations and are a source of high energy consumption. This effectively prevents their spread as a means of payment.

Let us recall the situation from 2021 when another (electric) car manufacturer, Tesla, began to accept payments in Bitcoin. This was still during the previous bull market, which resulted in significant increases in the Bitcoin price. Unfortunately, shortly after this event, the company’s CEO, Elon Musk, suspended this opportunity for environmental reasons.

Will it be the same with Ferrari?

Interestingly, Ferrari’s director of marketing and commerce, Enrico Galliera, said that Ferrari is not concerned about the negative impact of this type of solution on the environment. He added that thanks to the introduction of new software and greater use of renewable sources, the carbon footprint is negligible.

“Our goal to be carbon neutral by 2030 has been confirmed,” Galliera said in an interview.

Ferrari responds to customer needs

Ferrari said the decision was made in response to market and dealer requests, as many customers had invested in cryptocurrencies and wanted to be able to use them in the manufacturer’s showrooms.

This great gesture on Ferrari’s part is not only a nod to its long-time customers, but also opens the gate to a new generation of payments and the entire world of cryptocurrencies.
Perhaps this type of ventures will become an incentive for other brands to accept payments in increasingly popular digital tokens.