Ferrari Begins Accepting Crypto in the US

Ferrari has reportedly begun accepting cryptocurrencies like Bitcoin, Ethereum and USDC as payment for its luxury sports cars in the U.S. due to demand from wealthy clients and plans to expand this option to Europe.

Most major companies have been cautious about adopting crypto due to its volatility and environmental concerns. Ferrari's Chief Marketing and Commercial Officer, Enrico Galliera, emphasized the company's commitment to carbon neutrality by 2030. The move to accept crypto aims to attract both traditional and new-age investors.

The company has partnered with BitPay, which will convert crypto payments into traditional currency, ensuring protection from market fluctuations and ensuring funds are not from illicit activities.