Ferrari, the luxury sports car manufacturer announced it will expand Starting this month, Ferrari will begin accepting Bitcoin and cryptocurrency payments at its European dealers. Ferrari began accepting Bitcoins and cryptocurrency payments in its US dealerships last year.
Ferrari, the luxury car manufacturer to accept #Bitcoin The crypto payment system in Europe pic.twitter.com/PxT7Z7OwbP
— Bitcoin Magazine (@BitcoinMagazine) July 24, 2024
Ferrari has announced the launch of the service in Europe by the middle of July. This will allow customers to buy new cars using Bitcoins and other crypto currencies. The company intends to expand its Bitcoin payment Dealers worldwide will be able to offer the option by 2024, if legal.
Ferrari maintains its partnership with leading Bitcoin payments processor BitPay Payments are processed by the payment processor. BitPay immediately converts Bitcoin into traditional fiat currency to protect Ferrari’s dealer from Bitcoin and crypto volatility.
Ferrari has a large customer base of tech-savvy customers with significant Bitcoin wealth. It also taps into growing mainstream adoption, as more major companies accept Bitcoin payments including Microsoft, AT&T, and travel site Expedia.
Ferrari has said that customers can purchase luxury vehicles with greater ease and flexibility by accepting Bitcoin or crypto. Last year, the automaker experienced a strong response after accepting Bitcoins in US.
When luxury brands and other high-end businesses accept Bitcoin, they legitimize Bitcoin as currency rather than an investment. Consumers’ ability to use Bitcoins at more retail outlets was also mentioned as one of the factors in recent Bitcoin rally.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
