1 Ferrari announced to accept crypto payment following the surging demand among young investors. 2 BitPay became Ferrari’s cryptocurrency payment acceptance protocol to increase its sales. 3 In the financial year 2022, Ferrari sold 13,200 units of its luxury cars; the average price for a vehicle was $200,000.
The luxury car manufacturer announced that now onwards, it would start accepting cryptocurrency payment for purchasing vehicles.
As of now, the adoption of cryptocurrency payments is enabled in the United States, but the company aims to expand the offering in Europe. 
The move comes after a sharp rise in demand for vehicles. However Ferrari is not the first high-end car company to accept payments in cryptocurrency.. Tesla was one of the first companies that started accepting payments in crypto.
Enrico Galliera, the Chief Marketing and Commercial Officer said the move of the company came after the request of young investors who earned Millions from the virtual finance industry.
Not all corporate businesses accept cryptocurrencies as payment due to its volatile nature. However, Ferrari is evidently willing to adapt according to the prevailing trends.
For accepting payments in crypto, the vehicle manufacturer has collaborated with BitPay, a crypto processor. Bitpay will allow Ferrari users to pay the bill in Ethereum, Bitcoin and USD coin.
According to Galliera, the move to accept crypto payment will help the company to connect larger clients globally and to those who can afford Ferrari but do not own enough fiat money.
The company shipped approximately 1800 luxury cars to the United States in the first half of 2022. Although the company never disclosed its revenue gathered from crypto payments. 
Is Ferrari Working to Reduce Carbon Emission in its Vehicles?
Majority of the times Ferrari has faced severe criticism due to its high carbon emission gasoline vehicles. 
A spokesperson of an Italian car manufacturer stated that the company is working to reduce carbon emission and it is likely that the company will achieve its target by the end of 2030.
The problem of carbon emission is quite common for most sporting vehicles manufacturers globally and it is believed that usage of bio fuel might help the company to avoid excess carbon emission. 
In the financial year 2022, Ferrari sold 13,200 units of its luxury cars; the average for a vehicle was $200,000. Notably, the company will not charge any fees or surcharges on the crypto payments.
Ferrari’s move will be welcomed by the crypto community. Tesla the electric vehicle manufacturer was one of the first companies in its sector to accept cryptocurrencies payments. These developments bode well for crypto.
Disclaimer 
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Introduction Ferrari, the epitome of luxury in the automotive world, has made an audacious move that's capturing the attention of crypto enthusiasts and traditional investors alike. The Italian supercar manufacturer has announced its decision to accept cryptocurrency as a form of payment for its exquisite vehicles in the United States, with plans to expand this offering to Europe. But what prompted this iconic brand to embrace the digital currency revolution?Meeting the Demand of a New GenerationOne significant driver behind Ferrari's decision is the growing demand from younger investors who have made substantial profits in the volatile world of cryptocurrency. These digital-savvy individuals have accumulated wealth through their ventures into virtual finance and are now looking for ways to invest in tangible, real-world assets. Ferrari, with its timeless appeal, represents a dream come true for many of them.A Nod to Changing TimesBy embracing cryptocurrency payments, Ferrari is demonstrating its adaptability and recognition of the changing financial landscape. It's not the first luxury car manufacturer to do so; Tesla set the trend by accepting Bitcoin payments. This strategic move is seen as a nod to the evolving financial world, where digital currencies are increasingly integrated into mainstream commerce.BitPay PartnershipTo facilitate cryptocurrency transactions, Ferrari has teamed up with BitPay, a well-known cryptocurrency payment processor. BitPay enables users to make payments using major cryptocurrencies such as Ethereum, Bitcoin, and USD Coin. This partnership allows for seamless and secure transactions, making it convenient for cryptocurrency holders to acquire a piece of automotive excellence.Eyes on a Global AudienceBy accepting crypto payments, Ferrari is expanding its reach and catering to a global clientele. Many cryptocurrency investors possess digital assets but may not have the equivalent amount in fiat currency. This move opens the door for a broader audience of potential Ferrari owners.Addressing Environmental ConcernsIn addition to embracing crypto, Ferrari is actively working to reduce carbon emissions in its vehicles. This eco-conscious approach is in line with the broader sustainability efforts in the automotive industry. By taking steps to minimize environmental impact, Ferrari is showing a commitment to a cleaner and more sustainable future.Closing Thought Ferrari's decision to accept cryptocurrency payments is a reflection of a changing financial landscape and a response to the demands of a new generation of investors. It's a nod to evolving times and a move to connect with a global audience. By partnering with BitPay and addressing environmental concerns, Ferrari is not just embracing change; it's also driving innovation in the luxury automotive world. As the world of cryptocurrency and luxury cars converge, it's an exciting time for enthusiasts and investors looking to merge luxury and digital assets into one captivating journey.#crypto2023 #Ferrari

Post By: CryptosHeadlines.com

Ferrari is entering the crypto world by letting customers buy luxury cars with cryptocurrencies.
Luxury sports car maker Ferrari is now accepting cryptocurrencies like Bitcoin and Ethereum from customers in the United States. They also intend to offer this payment option in European markets soon due to high demand from their customers.
Ferrari Now Accepts Cryptocurrency Payments
Ferrari, known for its high-performance cars, is now accepting cryptocurrencies like Bitcoin, Ethereum, and USDC in the U.S. This move is in response to increasing requests from both cryptocurrency-savvy investors and traditional buyers looking to diversify their portfolios.
Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, mentioned that this shift to cryptocurrency payments aligns with the company’s goal to achieve carbon neutrality by 2030. He also pointed out that cryptocurrencies are making efforts to reduce their carbon footprint through software improvements and the use of renewable energy sources.
Ferrari aims to reach a broader audience and connect with potential customers who might not have considered owning one of their cars before. While they didn’t specify the number of cars they plan to sell with cryptocurrency, they emphasized their strong order portfolio, extending well into 2025.
What Comes Next?
BitPay, a major cryptocurrency payment processor, has been chosen by Ferrari for their U.S. rollout. BitPay will quickly convert cryptocurrency payments into regular money to protect both dealers and the company from the ups and downs of digital assets.
The goal of accepting cryptocurrency payments is to provide Ferrari’s customers with a smooth experience without additional fees or extra costs when using cryptocurrencies to make purchases.
Additionally, the luxury car manufacturer plans to introduce cryptocurrency payments in European markets in the first quarter of the next year and later in regions where using cryptocurrencies is allowed by law. It’s worth noting that Ferrari’s largest market is Europe, the Middle East, and Africa (EMEA), accounting for about 46% of their car shipments in the first half of this year.
Ferrari’s decision to accept cryptocurrency payments reflects a growing trend among established companies to meet the changing preferences of their customers and get involved in the digital finance world.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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