Bloomberg — Ferrari’s head of marketing and commerce has revealed that it has begun accepting cryptocurrency payments for its luxury sports cars in the U.S., with plans to expand the program to Europe in response to requests from wealthy customers, according to a Reuters report.
The vast majority of blue-chip companies have shunned cryptocurrencies because the volatility of Bitcoin and other tokens is impractical for business. Imperfect regulation and high energy consumption have also hindered the spread of cryptocurrencies as a means of payment.
Tesla began accepting Bitcoin payments in 2021, but Musk stopped the payment method due to environmental concerns.
Enrico Galliera, Ferrari’s chief marketing and commercial officer, said the cryptocurrency has been used to minimize its carbon footprint by introducing new software and greater use of renewable energy sources, and that “our goal is to be carbon neutral across the value chain by 2030.”
Ferrari said the decision was in response to the market and dealers, as many of its customers have invested in cryptocurrencies.
“Some are young investors who have accumulated wealth through cryptocurrencies,” he said. “Others are more traditional investors who want to diversify their portfolios.”
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