Ferrari accepts payment in cryptocurrency in the United States and plans to expand to Europe

CTOnews.com, Oct. 14 (Reuters)-the marketing and business director of Ferrari has revealed that its luxury sports cars in the United States have begun to accept payment in encrypted currency and will expand the program to Europe at the request of wealthy customers.

Most blue-chip companies avoid cryptocurrencies because the volatility of bitcoin and other tokens is impractical for business. Poor regulation and high energy consumption have also hindered the spread of cryptocurrency as a means of payment.

CTOnews.com noted that Tesla began to accept bitcoin payments in 2021, but Musk stopped the payment method because of environmental problems.

Enrico Enrico Galliera, Ferrari's chief marketing and commercial officer, said cryptocurrency had minimised its carbon footprint by introducing new software and making greater use of renewable energy. "our goal is to be carbon neutral across the value chain by 2030."

Ferrari said the decision was made in response to the demands of the market and dealers because many customers had 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."