Ferrari now accepts crypto in selling its cars in the U.S.
By Ralph Tathagata
Despite many blue-chip companies avoiding crypto as the volatility of bitcoin and other tokens renders them impractical for commerce, Ferrari said it has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. The luxury auto brand maker added that it will extend the scheme to Europe following requests from its wealthy customers, according to Reuters.
Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, told Reuters that cryptocurrencies had made efforts to reduce their carbon footprint through the introduction of new software and a larger use of renewable sources.
“Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed,” he said.
Galliera did not say how many cars Ferrari expected to sell through crypto. He said the company’s order portfolio was strong and fully booked well into 2025, but the company wanted to test this expanding universe.
Ferrari, however, noted the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
“Some are young investors who have built their fortunes around cryptocurrencies. “Some others are more traditional investors, who want to diversify their portfolios.”
Ferrari shipped more than 1,800 cars to its Americas region, which includes the U.S., in the first half of this year.
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