United

Bitcoin

Elon Musk

<div class="sg-post-des">
 Ferrari’s decision to accept cryptocurrency payments was driven by market demand and dealer requests, with numerous clients investing in digital currencies.
</div>
<div class="cointelegraph">
 Ferrari will <a rel="noopener noreferrer nofollow" title="accept" href="https://thebittimes.com/tag/accept.html">accept</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="payments" href="https://thebittimes.com/tag/payments.html">payments</a> for its luxury sports cars in the United States due to customer demand. The carmaker also plans to <a rel="noopener noreferrer nofollow" title="accept" href="https://thebittimes.com/tag/accept.html">accept</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="payments" href="https://thebittimes.com/tag/payments.html">payments</a> in Europe.
 According to an Oct. 14 report from Reuters, Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand. Ferrari’s choice to <a rel="noopener noreferrer nofollow" title="accept" href="https://thebittimes.com/tag/accept.html">accept</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="payments" href="https://thebittimes.com/tag/payments.html">payments</a> was driven by market demand and dealer requests, with numerous clients, including <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-savvy young investors, having invested in digital currencies.
 Although Galliera didn’t specify the number of cars Ferrari expects to sell via crypto payments, he reportedly stated that the carmaker’s strong order portfolio is fully booked until 2025. Ferrari aims to test this expanding market to connect with potential buyers beyond its usual clientele. The luxury automaker plans to introduce cryptocurrency payments in Europe by the first quarter of 2024 and expand to other crypto-friendly regions after.
 For its initial phase in the U.S., Ferrari has reportedly partnered with major cryptocurrency payment processor, BitPay. This collaboration enables transactions in Bitcoin (BTC), Ether (ETH) and USD Coin (USDC).
 Galliera confirmed that there will be no additional fees or surcharges when using cryptocurrency, as BitPay will promptly convert cryptocurrency payments into conventional fiat currency for Ferrari’s dealers, ensuring they are shielded from cryptocurrency price fluctuations.
 BitPay will also verify the legitimacy of the digital currency, ensuring it does not originate from illicit activities, money laundering or tax evasion.
 Related: Madeira announces creation of Bitcoin business hub for innovation
 Many large corporations have hesitated to adopt cryptocurrencies due to their price volatility and associated transaction impracticality. Among these companies is Tesla, the electric vehicle manufacturer, which initially started accepting payments in Bitcoin in 2021. However, CEO Elon Musk suspended this payment method due to environmental concerns.
 Magazine: The Truth Behind Cuba’s Bitcoin Revolution: An on-the-ground report
 <template data-name="subscription_form" data-type="crypto_biz"></template>
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ferrari-to-accept-crypto-payments-in-the-us-tbt66363.html">https://thebittimes.com/ferrari-to-accept-crypto-payments-in-the-us-tbt66363.html</a>

Ferrari to accept crypto payments in the US

TheBitTimes

Other articles published on Oct 14, 2023

DeFiChain (DFI) Price Prediction 2024, 2025, 2030, 2040, and 2050

European regulator: DeFi has both substantial hazards and advantages.

Seeking to Enhance Your Portfolio? Consider Solana ($SOL) And BorroeFinance ($ROE)

Lucid Dreaming Made Accessible: Prophetic’s Halo Technology

NVIDIA Corp: Will NVIDIA Stock Price Slip Further Towards $410?

Ripple’s Fate in 2024: SEC Battle & Coinbase’s Role in Settlement

Join our free newsletter for daily crypto updates!