In a groundbreaking move, those with a wealth of cryptocurrency can now fulfill their dream of purchasing a Ferrari in the United States. According to Reuters, the prestigious automaker is collaborating with the crypto payment processor BitPay to allow customers to use Bitcoin, Ether, and USDC for their stateside purchases. This decision came in response to customer demand, and Europe is set to receive the same privilege in early 2024, with other regions to follow suit.
A Cryptocurrency-Friendly Approach
Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, assured potential buyers that there won’t be any additional charges for those who choose to pay with cryptocurrency. BitPay will handle the conversion of these payments into traditional currency at the time of the transaction to mitigate concerns related to cryptocurrency price volatility. Galliera highlighted that this move is aimed at expanding the brand’s reach to “people who are not necessarily our clients but might afford a Ferrari.”
Balancing Sustainability and Innovation
This decision may raise questions, considering Ferrari’s commitment to more sustainable operations, including reducing its environmental footprint. Accepting cryptocurrencies, which are known for their energy-intensive nature, may appear contradictory to this goal. However, Galliera clarified that this new initiative aligns with Ferrari’s mission. He pointed out recent advancements in reducing cryptocurrency’s carbon footprint, such as increased reliance on renewable energy sources. He emphasized that Ferrari remains resolute in its target to achieve carbon neutrality across its entire value chain by 2030.
