As they use a third-party service - Bitpay, they want to be sure that the crypto paid to them will be converted quickly into cash/fiat. That's what they want and they can avoid crypto's volatility. That's actually a good market for them to take over not just in the US but also in European countries. Soon, what other markets are they going to cover, and will start receiving payments in crypto? Middle East I guess as that's a huge market there and there are countries like UAE and Saudi Arabia that are avid customers of sports cars like Ferrari. And then, "when Lambo" is going to be the next? I guess folks here still remember those two words.
Whether they will hold bitcoin or will convert it to fiat immediately after receiving payment, it really doesn't matter because they are businesses and they need to ensure their profits and safety . Bitcoins are so volatile that converting them to fiat is completely understandable if we just think of it as a means of payment for our business.
This news will not have an immediate impact on bitcoin but it is good for bitcoin's popularity in the long term . Ferrari is making bitcoin more popular as a payment method and this also proves that bitcoin is not just an investment as many people think .
Ferrari will be able to attract customers who are bitcoin investors and bitcoin will become more popular with this type of news .