Tesla was the first company to accept cryptocurrency in the automotive world. However, Elon Musk, who cut this support in a short time, faced an unexpected move. Italian sports car giant Ferrari announced that it will start receiving payments with cryptocurrency.

Ferrari will now make its sales with cryptocurrency

Ferrari has announced that it is starting to accept cryptocurrency as payment starting today. This program will first apply to sales in the US, but plans to expand to other markets, including Europe.

In a statement made by Ferrari Marketing Manager Enrico Galliera, he stated that many customers have significant crypto investments. Stating that “requests from wealthy customers” are being listened to, the manager stated that the order list is full until 2025.

The Italian automobile giant aims to reach new customers with a cryptocurrency payment option. While crypto transactions in the US will be made on BitPay; Payments in Bitcoin, Ethereum and USD Coin (USDC) will be accepted. It was also stated that there will be no transaction costs.

There is an important reason why sales will be made through BitPay. Since this company converts crypto into standard currencies such as dollars, it will protect Ferrari and its dealers from price fluctuations. Galliera said that most US dealers will accept crypto.

This payment option will be expanded to European customers early next year. Although there has been some criticism about Bitcoin’s energy use, it was stated that it would not affect Ferrari’s carbon neutrality targets.

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