Ferrari, the renowned luxury car brand, has announced its decision to accept cryptocurrency payments for its sports cars in the United States and plans to expand this payment option to Europe. The move comes in response to growing customer demand and requests from dealers, with many young investors showing interest in digital currencies. While the exact number of cars to be sold through crypto payments was not disclosed, Ferrari’s order portfolio is reportedly fully booked until 2025. By embracing cryptocurrency, Ferrari aims to tap into a new market and reach potential buyers beyond its traditional clientele. The luxury automaker has partnered with BitPay, a major cryptocurrency payment processor, for its initial phase in the U.S., allowing transactions in Bitcoin, Ether, and USD Coin. There will be no additional fees or surcharges for using cryptocurrency, as BitPay will promptly convert the payments into fiat currency to protect dealers from price fluctuations. BitPay will also ensure the legitimacy of the digital currency to prevent illicit activities. While some companies have been hesitant to adopt cryptocurrencies due to their volatility and transaction impracticality, Ferrari’s move demonstrates its willingness to embrace this emerging trend.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Enrico Galliera
Companies	Tesla, Reuters, BitPay, Ferrari
Currencies	Lido Staked Ether, Bitcoin, US Dollar
Securities	None