Following the path of Elon Musk: Ferrari began selling cars for BTC, ETH and USDC

Tesla used to do the same thing.

Many young investors have made their wealth from cryptocurrency, and now Ferrari is allowing them to buy supercars using blockchain technology.

Ferrari dealers in the US are already accepting cryptocurrency payments, with the service to be rolled out in Europe in early 2024. Later this opportunity will appear in other regions. Dealers accept Bitcoin and Ethereum, as well as the USDC stablecoin.

Cryptocurrency does not have a stable exchange rate, so Ferrari’s chosen payment system, BitPay, immediately converts digital currencies into traditional money so that dealers are not affected by price fluctuations. BitPay’s mission is also to ensure that cryptocurrency payments are not the proceeds of crime or used for money laundering or tax evasion.

Following the path of Elon Musk: Ferrari began selling cars for BTC, ETH, and USDC

Elon Musk
Elon Musk

“This will help us reach people who are not necessarily our customers but can afford a Ferrari,” Enrico Galliera, Ferrari’s chief marketing and commercial officer, told Reuters. “Prices will not change, no commissions or additional fees if you pay with cryptocurrency.”

In 2021, Tesla announced that it would accept payments in Bitcoin, but then reversed this decision due to the harm caused by Bitcoin mining. This year there was information that Tesla may again accept cryptocurrency payments.

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