Ferrari said ‘yes’ to cryptocurrencies

Ferrari has started accepting cryptocurrency payments for its luxury sports cars in the United States and will expand the practice to Europe following demands from its wealthy customers.

Enrico Galliera, commercial and marketing director of Ferrari,
In statements to Reuters, he explained that they made this decision due to the demands of the market and distributors.

For crypto payments, Ferrari will initially use BitPay, one of the largest crypto payment processors, which allows transactions with major currencies such as Bitcoin, Ether and USDC.

Ferrari plans to expand its crypto plan to Europe in the first quarter of next year, and then to other regions where cryptocurrencies are legally accepted. Europe, the Middle East and Africa (EMEA), Ferrari’s largest region, accounted for 46 percent of total car shipments in the first half of this year.

The Italian company sold 13,200 vehicles worldwide in 2022, and prices range from 200,000 euros to 2 million euros.

Ferrari sold more than 1,800 vehicles in the United States in the first half of this year. Galliera did not say how many cars Ferrari would sell through cryptocurrency. However, he stated that the company’s order book is strong and fully booked through 2025.