According to a report from Reuters on October 14, Ferrari's chief marketing and commercial officer, Enrico Galliera, has confirmed that the luxury car brand intends to accept cryptocurrency payments for its high-end sports cars in the United States.
In order to facilitate this new payment method, Ferrari has reportedly partnered with BitPay, a major cryptocurrency payment processor.
Initially, this service will be available in the United States, but the company also has plans to expand acceptance of crypto payments to Europe. By the first quarter of 2024, Ferrari aims to introduce cryptocurrency payments in the European region and subsequently extend this service to other crypto-friendly areas.
The decision to accept cryptocurrency payments was primarily driven by a high market demand and dealer requests from Ferrari dealers and their clients. Many of these clients, including young investors well-versed in digital currencies, have invested in cryptocurrencies.
While the exact number of cars expected to be sold through crypto payments was not specified by Galliera, it was reported by CoinTelegraph that Ferrari's order portfolio is already fully booked until 2025.