Ferrari to Sell Cars for Cryptocurrency in Europe: Company Changes Rules

Ferrari has announced that it is expanding its cryptocurrency payment system to its European dealer network starting from the end of July. 

This is reported by the automaker's official website.

The company launched this system in the United States last year, and now it will be extended to other Ferrari dealers around the world by the end of 2024.

The Italian company accepts cryptocurrency payments to meet the demands of its wealthy customers, although most companies avoid these payments due to the volatility of cryptocurrencies.

Ferrari has partnered with BitPay, one of the largest cryptocurrency payment processors, which allows transactions in various cryptocurrencies such as bitcoin and ether.

But the spread of cryptocurrencies faces challenges, such as irregular legislation and high energy consumption, and some countries, such as China, have restrictions on the use of cryptocurrencies.

As The Gaze previously reported, Ferrari is about to launch its first electric car. The new model will cost approximately 500,000 euros and is expected to hit the market by the end of 2025.