Topic: Ferrari introduced BTC payment option for their cars - page 5. (Read 802 times)
That’s a great news to be honest. Now due to bitpay, those who have some savings in the form of Bitcoins can use it to purchase the legendary car Ferrari. But I have a doubt that, as the amount will be big, so they won’t ask for verification etc? Will follow this news to check who are the persons who will spend the Bitcoins to buy these cars. It will be easier for them to implement this in European countries, but for Asian countries it will be really tough.
Wow. We are really building up on some big motions by big companies that really have that push towards the acceptance of cryptocurrencies in payments of their services and products. It's really going in that direction IMO.
It can have somewhat an effect but at least it's announced so maybe a lot of other big companies will follow suit.
It can have somewhat an effect but at least it's announced so maybe a lot of other big companies will follow suit.
For such a big company, I'm certain there's a significant impact on the market. It seems like we are now witnessing more significant news related to Bitcoin, and it appears to be gearing up for a new bull run. For us to have an idea on its potential impact on the market, as per... ; Market capitalization of Ferrari (RACE) it's marketcap as of October 2023 is $56.40 Billion. Just imagine the positive impact it will have on adoption.
Ehh, it's definitely good news but it'll be a 'meh' event in the grand scheme of things — for both bitcoin and Ferrari. Highly highly likely that the number of customers that will use BTC and not credit/debit will be less than 1% of customers.
It's merely "propaganda", merely "puff", "hype" for the people in general.
And the propaganda is already working because somehow the Ferrari name already has found its name to this forum and discussing about it is a kind of indirect marketing strategy for them. The more this new development is talked about, the more the name Ferrari sell, remembered by those who may have forgotten it, or now known by those who never knew the name. Especially now while a Halving is expected, many people treasure their bitcoins like their life. 
I seriously doubt that there is a high interest among those who own bitcoin to use it to purchase an expensive car like a Ferrari.
Well, not many people buy Ferrari in general (they sell 10-15k cars per year which is nothing compared to let's say Toyota who sells 10 million) but there's still decent amount of nouveau riche crypto millionaires who like to flex with expensive cars so there will be some interest. Plus those rich nocoiners who want to buy a Ferrari won't do, "Buy Bitcoin -> Then buy Ferrari", probably except if Ferrari offered their cars with a good discount if the purchase was made through Bitcoin. For the same price it would be inefficient because why not buy the Ferrari directly with their fiat?
No shit, Sherlock. It's merely "propaganda", merely "puff", "hype" for the people in general.
I would agree with you if Ferrari accepted it at the peak in 2021 just to ride the hype train, but they accepted it at the entirely different time when bitcoin is far from all time high. Imho, its a good marketing move as crypto millionaires are usually connected with lambos (which I thought is overblown until I visited Dubai) so why not try to get into that market too? Too many people consider BTC an investment rather than electronic money, and i'm sure they'll not want to spend their BTC on a car or anything that's as expensive as a Ferrari.
Buddy, people are buying all kind of crazy stuff with bitcoin. Hell, few years ago I bought my father a car with bitcoin money (not Ferrari ofc lol but a decent Nissan) and I am far from rich so you can imagine what those who have millions (and often lack of brain) do with crypto money. 
Too many people consider BTC an investment rather than electronic money, and i'm sure they'll not want to spend their BTC on a car or anything that's as expensive as a Ferrari. Since they are accepting BTC, Ether and USDC for now, i think that if their customers want to pay with crypto, they will probably do so with USDC which is a stable coin, because to the customers it will feel like they are spending fiat and aren't losing a valuable asset.
probably except if Ferrari offered their cars with a good discount if the purchase was made through Bitcoin.
Quote
"Prices will not change, no fees, no surcharges if you pay through cryptocurrencies," Galliera said.
I seriously doubt that there is a high interest among those who own bitcoin to use it to purchase an expensive car like a Ferrari. In fact I believe the same problem existed with Tesla and I believe this was the real reason why Musk removed the bitcoin payment option not the nonsense he said about the energy consumption.
In other words the only thing that this news is going to do is for a short time it is going to introduce Bitcoin to some people who would hear about this decentralized currency, then it is going to be forgotten until possibly the day they remove this option which there would be some FUD and again it will be forgotten the same way Tesla and Musk are.
In other words the only thing that this news is going to do is for a short time it is going to introduce Bitcoin to some people who would hear about this decentralized currency, then it is going to be forgotten until possibly the day they remove this option which there would be some FUD and again it will be forgotten the same way Tesla and Musk are.
Plus those rich nocoiners who want to buy a Ferrari won't do, "Buy Bitcoin -> Then buy Ferrari", probably except if Ferrari offered their cars with a good discount if the purchase was made through Bitcoin. For the same price it would be inefficient because why not buy the Ferrari directly with their fiat? It doesn't prove anything from the viewpoint that Bitcoin is making markets more efficient. It's merely "propaganda", merely "puff", "hype" for the people in general.
Although, from a viewpoint of a HODLer, it's very good.
I seriously doubt that there is a high interest among those who own bitcoin to use it to purchase an expensive car like a Ferrari. In fact I believe the same problem existed with Tesla and I believe this was the real reason why Musk removed the bitcoin payment option not the nonsense he said about the energy consumption.
In other words the only thing that this news is going to do is for a short time it is going to introduce Bitcoin to some people who would hear about this decentralized currency, then it is going to be forgotten until possibly the day they remove this option which there would be some FUD and again it will be forgotten the same way Tesla and Musk are.
In other words the only thing that this news is going to do is for a short time it is going to introduce Bitcoin to some people who would hear about this decentralized currency, then it is going to be forgotten until possibly the day they remove this option which there would be some FUD and again it will be forgotten the same way Tesla and Musk are.
For such a big company, I'm certain there's a significant impact on the market. It seems like we are now witnessing more significant news related to Bitcoin, and it appears to be gearing up for a new bull run. For us to have an idea on its potential impact on the market, as per... ; Market capitalization of Ferrari (RACE) it's marketcap as of October 2023 is $56.40 Billion. Just imagine the positive impact it will have on adoption.
As the title says, Ferrari (who I believe doesn't need introduction) announced that they are accepting bitcoin payments for their cars. They are not accepting BTC (and a few other cryptocurrencies) directly but instead via Bitpay but its still a good thing for bitcoin when probably the most legendary car manufacturer decided to accept it even through a 3rd party.
For now its only for US market but they plan to expand it to Europe too.
For now its only for US market but they plan to expand it to Europe too.
Quote from: https://www.reuters.com/business/autos-transportation/ferrari-accept-crypto-payment-its-cars-us-2023-10-14/
Ferrari (RACE.MI) 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.
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
Ferrari said the decision came in response to requests from the market and dealers as many of its clients have invested in crypto.
"Some are young investors who have built their fortunes around cryptocurrencies," he said. "Some others are more traditional investors, who want to diversify their portfolios."
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