You can now buy your new Ferrari with cryptocurrencies in Europe

After the pilot project launched in the United States in 2023, Ferrari's European branches will now also accept payments in cryptocurrencies.

By: Massimo Grassi

Jul 29, 2024 at 4:39am ET

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Are cryptocurrencies really usable? Many people have been asking this question for years, and the answers vary depending on who you ask. However, we now know that Bitcoin & co. can be used to buy a new Ferrari.

Indeed, following a pilot project launched in October 2023 in the US, the Maranello firm has opened up the possibility of paying for a brand new Rossa with cryptocurrencies.

How to buy a Ferrari with cryptocurrencies?

For the moment, Ferrari has not announced when it will accept cryptocurrencies at its dealerships or which currencies will be accepted. In the US, it is possible to use Bitcoin and Ethereum which, at the current exchange rate (fluctuations in cryptocurrencies are extremely volatile and can change suddenly and significantly), are worth €61,162.06 and €3,185.21 respectively.

Ferrari 296 GTB

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As an example, a Ferrari 296 GTB (€289,830) costs 4.73 bitcoins or 90.99 ethereum. Still looking at what's happening in the US, the Maranello-based company doesn't impose any surcharges for cryptocurrency payments and operates a partnership with BitPay, a company that runs a virtual wallet application.

As the press release points out, Ferrari will rely on a number of specialist companies to guarantee the security of transactions, convert cryptocurrencies immediately and verify the source of funds.