Following Ferrari's initial foray into the cryptocurrency world in the US in October 2023, Europe will get the same benefit from the end of July 2024.
Following Ferrari's initial foray into the cryptocurrency world in October 2023, when they partnered with BitPay to allow US and Canadian customers to purchase cars using Bitcoin, Ethereum and USDC, the Italian supercar manufacturer has expanded its Crypto acceptance into Europe, effective from the end of July 2024.
Ferrari say this move is a direct response to the needs and preferences of their client base which is becoming more tech-savvy and amassing more substantial digital assets. The majority of European dealers are ready to adopt the new payment system, which it's claimed seamlessly integrates with traditional payment methods. The payment system uses the expertise of various industry leaders to ensure payments are secure, simple and adhere to all local regulations.
By the end of the year, Ferrari plans to expand into even more countries where cryptocurrencies are legally accepted, to give clients the flexibility to use digital assets to purchase vehicles worldwide.
Similarly to the debate on crypto full stop, we can ask if this is just a gimmick next to no one will take advantage of, or whether other manufacturers will follow suit and we'll all be buying our next cars with crypto. After all, 10 BTC sounds less painful than half a million quid!
