Ferrari introduced BTC payment option for their cars

[m2017]

News like this from automakers like Honda or Ferrari, showing their loyalty to accept payment in bitcoin for their cars, demonstrates primarily their reluctance to miss out on profits. This is good, because the rest of the auto industry will also want to get a piece of profit from bitcoiners, which in turn will spur this market to progress (with bitcoin). Who knows, the day will come when no car purchase will be made without paying in bitcoin. But only so that this happens without unnecessary intermediaries and conversions into fiat. That is, I gave bitcoin -> received a Ferrari.

The only thing that worries me in this whole story is that if you buy from Ferrari, there is one point - you need to prove the origin of the funds. I am sure that this practice will become widespread and if you want to pay for a car you will have to explain to everyone where your bitcoins came from. It will be sad that the same thing will happen in all areas, that is, with any more or less large purchase, you will have to explain the origin of the funds. It would be too simple and naive to expect that the regulator will allow free trade and monetary relations between bitcoin owners and businesses. The regulator will influence businesses, and those, as in the case of Ferrari, will impose similar mandatory conditions for buyers.

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[Silberman]

Although this is not too big news and Ferrari cannot be compared to Tesla, Ferrari's popularity is known to most people even those who cannot afford to buy their products. This news is nothing special similar to Honda accepting bitcoin payments nor does it create any hype for bitcoin, but all this news says is that bitcoin is becoming more and more accepted, its popularity is getting wider and wider.

But honestly, I don't think Tesla accepting bitcoin will be good news for bitcoin . I mean what if they accept it and then proceed to eliminate it?

While the acceptance of a company like Ferrari should not come up as a surprise or as some sort of big event, at the same time this is very telling as well, there was a time in which any time a company accepted bitcoin as a payment option it was a big news, but now it does not really make much of a difference, this show us how strong has bitcoin gotten over the years and soon enough we will be able to buy in most online and brick-and-mortar stores with it without too much of a problem.

[PrivacyG]

The only thing that worries me in this whole story is that if you buy from Ferrari, there is one point - you need to prove the origin of the funds.

How many countries allow to pay over 100 grand in Cash.  And even out of these.  How many will let you pay over 100 grand with out reporting you to the local Authorities so you can be checked for A M L policy?

It is almost impossible today.  Given the cheapest Ferrari in 2023 is around 200 grand.  You can not make such a payment with no such consequences.  If Ferrari will not ask you for source of funds.  Then the Bank will or Authorities as soon as they learn you made such a large Transaction.

News like this from automakers like Honda or Ferrari, showing their loyalty to accept payment in bitcoin for their cars, demonstrates primarily their reluctance to miss out on profits.

It might be even more positive and good piece of news than you think.  Maybe they are accepting Bitcoin payments now because they expect a rise in Bitcoin prices by the next Bull Run.  I truly believe these decisions do NOT come randomly at random times but as perfectly timed as they can be.  Bitcoin is ready for an uprise and Ferrari could definitely profit out of it a lot.  You hear this today and within a few years your holdings increase by hundreds or thousands of percent.  You will afford more things.  Maybe a FERRARI now that they accept Bitcoin?

[Ludmilla_rose1995]

in the article that I read, Ferrari management accepts payments via bitcoin and ethereum, but I am 100 percent sure that this innovation will increase sales of Ferrari cars because paying with cryptocurrency is very easy and will continue to pamper buyers with the convenience of transactions via bitcoin and ethereum. Until now I have seen that there are quite a lot of car manufacturers that accept payments with Bitcoin, currently Bitcoin is considered an easy means of payment.

[atamism]

in the article that I read, Ferrari management accepts payments via bitcoin and ethereum, but I am 100 percent sure that this innovation will increase sales of Ferrari cars because paying with cryptocurrency is very easy and will continue to pamper buyers with the convenience of transactions via bitcoin and ethereum. Until now I have seen that there are quite a lot of car manufacturers that accept payments with Bitcoin, currently Bitcoin is considered an easy means of payment.

Yeah, I think this is also a good strategy and good move for ferrari, accepting Bitcoin as a payment method is good, a lot of store’s are now accepting Bitcoin as payment and they recognized Bitcoin now. I don’t see Ethereum as a payment but sure soon it will recognized as Bitcoin as well. Yes, Bitcoin payment method is easy to so convenient for those who have a lot of BTC.

[pinggoki]

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.

Last time that a car company did this we saw bitcoin reach an all-time together with other factors but Tesla's mistake at that time was that they've pulled back in accepting so I guess Ferrari takes the throne of Bitcoin communities favorite car company. Hopefully this one is a more permanent adoption in payment option for Ferrari given that it's Bitpay, I think it's going to be awesome. Imagine having bitcoin symbol in Ferrari's F1 cars in Monaco Grand Prix, are they allowed to add that in their racecars? I mean it's still a promotion for them right if they add the bitcoin symbol?

[Youngkhngdiddy]

Yeah, I think this is also a good strategy and good move for ferrari, accepting Bitcoin as a payment method is good, a lot of store’s are now accepting Bitcoin as payment and they recognized Bitcoin now. I don’t see Ethereum as a payment but sure soon it will recognized as Bitcoin as well. Yes, Bitcoin payment method is easy to so convenient for those who have a lot of BTC.

  The acceptance of cryptocurrency by luxury brands like Ferrari can have a significant impact on public perception and understanding of cryptocurrencies in several ways for example. Luxury brands accepting cryptocurrencies can attract a new segment of customers who are actively involved in the cryptocurrency space. This can lead to increased engagement and participation in the cryptocurrency market, as well as potential growth in the overall market size. As more luxury brands embrace cryptocurrencies, it can create a positive feedback loop, further driving adoption and acceptance.
   Understanding of cryptocurrencies are influenced by various factors beyond luxury brand acceptance. Regulatory developments, media coverage, security concerns, and market volatility also play significant roles in shaping public opinion.

[redsun114]

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.

But, they have clearly stated that this has been done in response to the requests from the market and the dealers because their customers are asking for it. They wouldn't have done it if they didn't see any demand for it which is the right thing to do. A business only applies or brings in something if it sees a growing demand among its customers for it. If it sees them asking or requesting for that thing it will never do something that doesn't necessarily benefit it.

So, the company saw demand from its customers and responded to it in the best way possible, now we will have to see how the world reacts to their decision. If their decision is taken positively, there will surely be some impact on the market because of it, but if it's not given much hype, it might just pass by without anything for Bitcoin and cryptocurrency holders.

[Casdinyard]

Guess it's time to ask the question "when ferrari?" instead of "when lambo?" after all this years lol.

Kiddings aside, this opens so much opportunities for people who have the capability and are in this industry, to finally flex their earnings and actually own a ferrari bought with bitcoin. I see this as an absolute win for the people despite the fact that if things go sour for bitcoin they may go down the Tesla path and stop bitcoin payments as well in the future, and even go so far as to sell their holdings (looking at you Elon, you absolute buffoon). But regardless of if whether this is a tactic or a true-blue move by Ferrari to appeal to the bitcoin people and sway them from the lambo fanaticism, the fact that more outside companies are dipping their toes in the bitcoin industry is just amazing to me. Goes to show that we're over the bitcoin is ponzi narrative from years ago.

[Zigabel]

It's really a good one and personally I see this as an opportunity for convertion platforms, those who can really convert Bitcoin payments into local currencies and allow it drop in it's equivalent into people's local bank account just like bitpay. Other could come up with third party platform who can do this and if it looks reliable well enough I'm sure other bigger companies would adopt them into their payment platforms.

There may be others who would want to incorporate Bitcoin payments into their payment method but for the sake of convince and time it takes for confirmation, they would rather not go through the stress so they incorporate other options but if there's a third party convention platform who could do it as quickly as possible and confirmation made then definitely most of these firms would consider adding it up to their payment methods. But then sice bitpay is available already and is trusted and reliable, others could see how they could adopt it and incorporate it into their payment options to improve verity and flexibility in payments.