Ferrari Meets Growing Demand by Accepting Cryptocurrencies for Purchases

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Ferrari Meets Growing Demand by Accepting Cryptocurrencies for Purchases

According to a Reuters news report, Ferrari's Chief Marketing and Commercial Officer, Enrico Galliera, revealed that the luxury brand has decided to accept digital assets for purchases in response to increasing requests from their affluent clientele. This move follows Tesla's brief acceptance of Bitcoin in 2021, which was later suspended due to environmental concerns by CEO Elon Musk. In addition, Ferrari has partnered with the reputable cryptocurrency payment processor, BitPay, enabling transactions in major cryptocurrencies such as Bitcoin, Ethererum, and USD Coin. BitPay also ensures that the currencies used in these transactions are sourced lawfully, thereby minimizing any association with illegal activities or fiscal evasions. Galliera mentioned that many of Ferrari's U.S. dealerships have already adopted this new payment system, and he is confident that more will soon follow suit.