1y ago

Ferrari to accept crypto as payment for its cars in the US

www.channelnewsasia.com Ferrari to accept crypto as payment for its cars in the US

MILAN : Ferrari has started to accept payment in cryptocurrency for its luxury sports cars in the U.S. and will extend the scheme to Europe following requests from its wealthy customers, its marketing and commercial chief told Reuters.The vast majority of blue-chip companies have steered clear of cr...

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Seems like they aren't actually accepting crypto. They made a deal with a crypto exchange to act as an intermediary. A buyer pays Bitpay in crypto and Bitpay exchanges it to cash to pay Ferrari. Ferrari will never actually holds any crypto.
- A “crypto exchange” sounds like an interesting, high-risk company. Could be hugely profitable, could tank at any moment.
  
  There's a number of them. Some have tanked, many have been hacked and robbed.
- So it's one of those stickers that early crypto mongers put in windows of stores saying that they take crypto and then taking a picture of it to make crypto seem useful.
  Bitpay is basically paying Ferrari to not sue them when they claim that Ferrari accepts bitcoin.

They'll be painting a clown face on the horse before long.
- Charles Leclerc is going to run out of tears, they can’t keep getting away with it

If you really want Bitcoin value to tank, buy a Ferrari with it.

Dell did this in 2014, and discontinued in 2017.
https://www.dell.com/en-us/blog/we-re-now-accepting-bitcoin-on-dell-com/

10 comments