Buying a Ferrari With Crypto Is Now Possible
It's now possible to purchase a Ferrari luxury sports car in the US without spending any cash.
As Reuters reports, Ferrari announced it now accepts cryptocurrency as a form of payment in the US and will extend that to Europe in the near future.
The decision to accept crypto, according to Ferrari's Chief Marketing and Commercial Officer Enrico Galliera, is based on demand. Ferrari dealers and potential buyers both requested the company embrace cryptocurrency, with Galliera explaining, "Some are young investors who have built their fortunes around cryptocurrencies ... some others are more traditional investors, who want to diversify their portfolios."
Ferrari is using BitPay to process cryptocurrency payments and will accept Bitcoin, Ether, and USDC. Galliera confirms that "prices will not change, no fees, no surcharges if you pay through cryptocurrencies," and as soon as the crypto payment is received it will be converted into US dollars by Bitpay.
The company's order book is already full until 2025, so anyone placing an order now is in for a long wait to receive their sports car. With the value of cryptocurrency being far from stable, by the time the car is delivered, the crypto spent buying it could be worth far more (or far less) than the original purchase price.
Ferraris start around $200,000 but can go into the millions depending on which version you buy.
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