Tesla tried, but eventually dropped the offer that let you buy the popular electric SUV with Bitcoin.
Some believe that Elon Musk pulled out because the price of Bitcoin was too volatile, while Tesla itself claimed that it dropped the payment option for environmental reasons, since Bitcoin mining consumes a lot of energy.
Ferrari sees no such considerations when the Italian car manufacturer accepts Bitcoin, Ether and US dollars as payment for its bright red luxury cars.
Cryptocurrency acceptance: Ferrari CEO Enrico Galliera (pictured) says the carmaker will first accept cryptocurrencies as payment in the US, then in Europe from next year. Image: NTP
Many of them are cryptocurrency millionaires
According to Reuters, Ferrari exported 1,800 cars to the American continent in the first six months of the year. In the United States specifically, buyers will be able to pay in cryptocurrency first.
Ferrari’s decision to accept bitcoin, ether and US dollars comes after several requests from customers and dealers to be able to pay for the car with cryptocurrency. Many of Ferrari’s clients have invested in cryptocurrencies.
Some of them are young investors who have built their fortunes around cryptocurrencies, while others are traditional investors who want to diversify their portfolios, Enrico Galliera tells Reuters.
He is Executive Vice President of Marketing and Sales at Ferrari.
When new customer group
Galliera doesn’t have a figure for how many cars Ferrari expects to sell where cryptocurrency is the payment method, but they will test that to check the response.
– We want to be able to connect with people who are not necessarily our customers, but who might be able to afford a Ferrari, says Galliera.
The Italian car brand sold 13,200 cars last year, with the cheapest models costing €200,000. If you have more money than that, you can also buy a new Ferrari for around 2 million euros.
Promises stable prices
First, as I said, Americans can pay in cryptocurrency, while from the first quarter of next year it will be possible to settle a car purchase in cryptocurrency in Europe. Then comes the rest of the world.
According to Ferrari, prices will not fluctuate significantly if you choose to pay in cryptocurrency.
The car company has partnered with Bitpay, promising that the prices will be the same as if you were paying with regular currency. There will be no additional fees or other hidden costs if you choose to pay in cryptocurrency.
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