Quote from: fuguebtc on Today at 09:02:27 AM

Quote from: tabas on July 24, 2024, 11:05:18 PM

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.

Most of the enterprises and huge companies will choose this way. This is adding a new payment option for their customers. So, if they have a proud crypto investor and holder customer who wants to pay in crypto then this is the solution that they have for him.

Quote from: fuguebtc on Today at 09:02:27 AM

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 .

I am not really expecting some big move to the market just because of this and that's because there were news in the past that were like this and the market didn't moved a lot. But soon in the future, this might give that additional demand for Bitcoin.

Quote from: NotATether on Today at 09:22:12 AM

Quote from: tabas on July 24, 2024, 11:05:18 PM

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.

But Saudi Arabia and the UAE and other gulf countries have their own ways of getting sports cars. They don't need to buy it directly from the manufacturer, they can just go whatever importer is bringing Ferraris into their country and buy from there. I think that's how they've always been doing it. Plus, they're not too crazy about Bitcoin over there and prefer to use wire transfers.

As for UAE, I think Binance has headquarters there and the adoption there is slowly growing. They're starting to become crypto-friendly. It's just a thought of mine though since I usually see a lot of sports car there and who knows that there have been crypto millionaires there that would like to purchase one through this type of mean.