Ferrari to accept Bitcoin & Ethereum payments in Europe.

[Wiwo]

if this news is true, then it is the same as Tesla accepting payments with crypto, but hopefully this is not just gossip because there are many people who have crypto who want to buy this car, but what I think is what if the crypto market is down?
here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method

this have gone beyond just speculations since the Ferrari group of company have already announced their stable coins acceptance in some region for over a year now, but so this is just a follow up with their already exiting crypto payments and also a big add up to the entire adoption of crypto currency in general.

Although this may not have anything significant to do in the price of major coin like bitcoin so it could only increase crypto usage among their customers but then many will still prefer to make payment in fiat.

[bee]

here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method

They could have partnered with an off ramp crypto payment processor, bitcoin volatility wouldn’t affect dealers’ revenue that way. Besides, I don’t think there is a standard price for luxury cars, buyers might get different quotes from different dealers, especially if using crypto payment methods.

[Stompix]

but what I think is what if the crypto market is down?
here I am sure that when the crypto market is down, the Ferrari company will not sell its products to be paid for with the crypto method

They accepted crypto as payment back in 2023 when the market was done for Us and Canada, they don't care about the market as they don't hold coins!

They could have partnered with an off ramp crypto payment processor, bitcoin volatility wouldn’t affect dealers’ revenue that way.

This is what they are actually doing, it's a partnership with Bitpay, the same thing they did in the US back in October and now expanded to Europe after they finished the paperwork, they accept crypto, and the customer pays through Bitpay instantly converts the coins and send the fiat to their bank account.
Companies that need immense cash flow and are on a profit margin can't deal with this volatility, it can make them rich but can also bankrupt them.

[dkbit98]

Can we sell our Ferraris and trade them back for Bitcoin?
Holding and driving Ferrari is decreasing it's value, unless you are keeping it protected in vacuum and sell in 30 years as collectibles item.
Holding Bitcoin is more likely going to increase in value in future, so I would not give my Bitcoin to Italian Stallion yet
In future we should be able to buy everything with Bitcoin easy, at least those who survive this crazy times.
 

[bee]

Can we sell our Ferraris and trade them back for Bitcoin?

It is possible, but we can't expect to get the same amount of bitcoins as our purchase price if they offer it to a official dealer as they're usually tied to the manufacturer’s rules.

Holding and driving Ferrari is decreasing it's value, unless you are keeping it protected in vacuum and sell in 30 years as collectibles item.

Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.

[NotATether]

Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.

That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.

[doc]

Iirc, certain supercar companies have strict rules that buyers are not allowed to sell their supercars until a certain period of time. This means that buyers do not get the chance to do business with them too soon. I assume even luxury cars are somewhat of a collector's item once they're bought.

That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.

They're rich people, they don't care about $500K just to buy a supercar. Maybe for us it's too much just to buy a car, but rich people need a lifestyle and need satisfaction and existence in their community as rich people.

[Freemind]

That is to prevent scalping (Tesla does it too), and besides, what kind of bozo would spend $500k on a sports car just to leave it in a garage for 3 years and never drive it? It's all about the driving experience - everyone wants to drive a supercar, so that's why the prices are the way they are. So you can expect people to actually use their Ferraris and other cars after they buy them.

What I'm about to tell you may surprise you, but there are plenty of fools who spend $500,000 (and much more) on cars they will rarely drive in their lives. Some rich people are not looking for the experience of driving a Lamborghini Veneno (only 13 units were manufactured at a price of $4,000,000 each unit), what they are looking for is to have it in their garage, what they are looking for is a status, belonging to a small group to which the vast majority of people in the world cannot belong.