Ferrari has chosen to accept cryptocurrency payments for its luxury sports cars in the US, and plans to extend the method to Europe too, as Sales and Marketing director Enrico Galliera confirmed to Reuters. The growth of crypto investors among customers has pushed the car manufacturer to move towards this strategic choice. This decision marks a historic moment for the automotive industry, and demonstrates how one of the most important brands in the sector is officially clearing digital currencies.
The strategy
Ferrari’s move to cryptocurrencies is a strategic move:
– In this way, the Maranello car manufacturer manages to intercept a change in the behavior of consumers in the luxury sector, many of whom are also crypto investors;
– The alternative payment option may be more convenient and quicker;
– Paying in crypto could also reduce the complexity of currency conversions, especially in an international context;
– From a marketing point of view, it could open the doors to a new clientele made up of technology enthusiasts and investors.
With this move, Ferrari also surpasses Tesla which was the first to open up to cryptocurrencies and then exit. The platform responsible for managing transactions is BitPay, one of the payment processors that allow exchange. But there are many companies that allow companies to operate regularly with Bitcoin and cryptocurrencies, such as Coinbar Spa in Europe with CoinbarPay, which has acquired customers among content companies such as Chili and among clothing and distribution brands, allowing the automatic conversion of cryptocurrencies into local currency. legal tender.
Ferrari challenges its competitor Lamborghini, which in the imagination of Bitcoin users has always been associated with wealth and earnings. Furthermore, Ferrari’s decision is not only a commercial move, but also a step towards sustainability. The company has indeed confirmed that its goal is to achieve carbon neutrality by 2030, and is exploring how cryptocurrencies can contribute to this goal.
