Ferrari is working with BitPay to accept bitcoin, ether and USDC, with plans to expand to Europe and other areas.
Anyone sitting on a mountain of cryptocurrency can now use it to buy a Ferrari in the US. According to Reuters, the luxury carmaker is working with the crypto payment processor BitPay to accept bitcoin, ether and USDC for purchases stateside, which customers were apparently begging for. Europe is expected to get the same treatment in early 2024, with other regions to follow.
There won’t be any upcharges for those paying with crypto, Ferrari’s Chief Marketing and Commercial Officer Enrico Galliera told Reuters, and BitPay will convert those payments to traditional currency at the time of the transaction to avoid any issues of volatility. Galliera said the move will help the company reach “people who are not necessarily our clients but might afford a Ferrari.”
Just last year, Ferrari announced a commitment to more sustainable operations, including reducing its environmental footprint, and embracing the notoriously energy-intensive cryptocurrencies would seem to go against that. But, the company insists this doesn’t get in the way of its mission. Galliera cited recent strides in improving crypto’s carbon footprint, like heavier reliance on renewable energy sources, and told Reuters, “Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed.”
