Joining the growing list of companies accepting cryptocurrency, renowned luxury sports car manufacturer Ferrari is now accepting digital currency payments for its vehicles in the U.S., with plans to expand the service to Europe in response to demand from wealthy clients. As reported by Reuters, this move comes amidst the hesitation of most prominent companies to accept cryptocurrency due to its volatility and regulatory complexities.

In 2021, Tesla initially embraced Bitcoin payments, only to halt the process due to environmental concerns. Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, demonstrated a different perspective, citing the efforts of the crypto industry to minimize its carbon footprint through new software and increased reliance on renewable sources.

“Our target to reach for carbon neutrality by 2030 along our whole value chain is absolutely confirmed,” he explained.

The market and dealers prompted Ferrari’s decision, as many clients have significant crypto investments. The client base is diverse, from young investors who amassed their wealth in cryptocurrencies to more traditional investors seeking diversification. Despite the energy efficiency improvements of some cryptocurrencies like Ether, Bitcoin still faces backlash for its energy-intensive mining process.

Given the company’s strong order portfolio, fully booked until 2025, Galliera did not specify the number of cars Ferrari expects to sell via Go to Source to See Full Article
Author: News Desk

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details