Ferrari allows crypto payments for luxurious sports cars

In recent news, it was reported that Ferrari is going to accept crypto as payment for its cars in the US. You are required to read the article for more details and information about the same. Follow us around for all the insights and fresh updates. It was reported that Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the US and will extend this scheme to Europe which is followed by a request from its rich consumers and its marketing.

Ferrari allows crypto payments

There has been a vast majority of blue-chip companies that have ignited clear of crypto as the bitcoin and other tokens provide them non-practical for commerce. However, patchy regulation and high energy utilization have also prevented the spread of crypto as a mode of payment. Moreover, these include electric carmaker, Tesla which began to accept bitcoin payments in 2021. As you all must know Bitcoin was the biggest crypto coin before CEO Elon Musk dismissed it due to environmental concerns.

Reportedly, Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera told Reuters cryptocurrencies had made efforts to reduce their carbon footprint through the introduction of newly launched software and a larger use of recycling sources. In an interview, he said that their target is to reach carbon neutrality by 2030 along our whole value chain is absolutely confirmed. Reportedly, Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto. Meanwhile, some cryptocurrencies as the second largest have improved their energy efficiency, but bitcoin still attracts criticism for its energy-intensive mining.

Moreover, it was known that Ferrari shipped more than 1,800 cars to its American region which includes the US in the first half. However, Galliera did not comment on how many cars Ferrari expected to sell through crypto. Furthermore, he said the company’s order portfolio was strong and fully booked well into 2025, but the company wanted to test this expanding universe. In 2022, the Italian company sold the cars in 13,200 with prices starting at over 200,000 euros and going up to 2 million euros and plans to extend the crypto scheme to Europe by the first half of the next year and then to other regions where crypto is legally accepted. Reportedly, the countries where cryptocurrencies are restricted include China. Thank you for being a patient reader. As you know, shares are always appreciated. Tune in to our website for more.