Post
Topic
Board Bitcoin Discussion
Re: Ferrari extends crypto payment to Europe
by
Die_empty
on 24/07/2024, 21:52:13 UTC
I think this is the most important part of the article.
Quote
According to the statement at that time, the aim of this move was cater the growing demographic of tech-savvy clientele. The decision to expand these services into Europe comes as a continued effort to meet the evolving preferences of its customer base, according to a press release.

I am one to encourage businesses to adopt cryptocurrency as part of their payment option. However I am against the idea of doing it because other people are doing it. It should be backed with evidence and the evidence is what we can see from the quoted text in the article. What this translates into is increasing clients base and increase in revenue.
Ferrari is a business that wants to increase and satisfy it's client base and they observed that adopting crypto payment will assist them in doing that. From the quoted post there is an increase in the demand of Ferrari by the tech-savvy population and the company needs to take advantage of it. Maybe after researching these new targets, the company deduced that having a crypto payment option would increase sales. The majority of these tech-savvy individuals are young workers and many of them might want to pay for Ferrari in cryptos.

With more and more prominent institutions taking the bull by the horns in adopting çrypto, Ferrari is not slacking behind too as they have right now extended their  payment option for their products in crypto to European dealers too. At first it was just within the United States of America but now they have extended it to Europe and I think this is a good news for the crypto community as we all anticipates towards a $100k+ price rise and above for bitcoin before/after the end of this year 2024.
Quote
However, during its US launch, the company collaborated with BitPay to accept payments in Bitcoin, Ethereum and the stablecoin USDC. source
This is a welcome development. Seeing Bitcoin being accepted as money by major organizations is a good thing since it promotes Bitcoin as a legal tender. Nevertheless, Ferrari wants to accept cryptocurrencies for their selfish interest and to not promote the coin. Just hoping that the laws on crypto will be relaxed in my country.