"Wow that's the best, whoever saves a lot of crypto can go buy a Ferrari."
Following relatively high customer demand, luxury sports cars Ferrari will accept payments in cryptocurrency in the United States (US) and then plan to implement it in Europe in the first quarter of 2024.
According to Ferrari's Chief Marketing and Commercial Officer Enrico Galliera, his team intends to accept payments in crypto after being driven by market demand and traders including customers and young investors interested in buying digital assets.
Although Galliera did not specify the number of cars Ferrari expects to sell through crypto payments, he revealed that the portfolio for car orders is fully booked until 2025.
Ferrari intends to test the growing crypto market to connect with buyers beyond its regular customers.
As part of its initial phase in the US, Ferrari has entered into an agreement with crypto payment processor BitPay to allow transactions in Bitcoin (BTC), Ethereum (ETH) and USD Coin (USDC).
Galliera confirmed that there are no additional fees or surcharges when using crypto as BitPay will immediately convert digital asset payments to fiat currency ensuring they are protected from crypto price fluctuations.
BitPay will also ensure the validity of a digital asset so that it is not from money laundering or tax evasion activities.
