Ferrari’s Bitcoin acceptance is major market win, says CoinFlip CEO
It’s not a matter of will big-name companies follow Ferrari’s lead to adopt Bitcoin, but when, according to CoinFlip CEO Ben Weiss. Ferrari’s decision to allow U.S. residents to buy its cars in exchange for cryptocurrencies like Bitcoin (BTC) has become one of the biggest market wins in 2023, according to the CEO of the Bitcoin ATM operator CoinFlip. Ferrari has been aware of the growing demand from clients for alternative payment solutions and decided to support dealers in meeting these clients’ requests, the representative said, adding: “The source of the cryptocurrencies will be proven, and volatility risks associated with exchange rates will be eliminated. Dealers — and ultimately Ferrari — will receive payments in traditional currency and will not be managing cryptocurrencies directly.” Ferrari added the crypto payment support by integrating BitPay, a major crypto payment firm serving global brands like AMC Theaters, the electronics retailer Newegg and others. According to BitPa...