I think this is the most important part of the article.
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.
Surely they are aware that younger millionaires have either made money in cryptocurrencies, or if they have made money otherwise, have a significant portion of their portfolio in cryptocurrencies.
I have very big question.
If Bitcoin investors cash out their bitcoins, to have cash that will be used for purchasing a car, they will be taxed. So with this Bitcoin payment directly to buy a car, how will tax be applied?
Will tax be the same as when a Bitcoin investor cashing out bitcoin to cash?
I guess it will be applied a same tax policy, with cash or with Bitcoin, because governments will not create a hole for people to avoid tax by using Bitcoin directly for their spending.
Yes, they will still have to pay taxes, as long as when they buy the Ferrari the price of the Bitcoin is higher than when they bought it. In that sense, switching to fiat and paying with Bitcoin create the same taxable event before the tax authorities. But surely they save fees and a lot of time. If you have to change $0.5M of Bitcoin to Euros, and then transfer it, it will cost you much more time than the average ten minutes it will cost you if you send it directly using the blockchain.