Ferrari, a renowned Italian automaker, has changed the norms in luxury automobiles with a daring and creative move: in the US, Dogecoin is now accepted as payment for their expensive sports cars.

This choice was made in response to Ferrari’s announcement that it would accept Bitcoin and other cryptocurrencies as payment for automobile purchases starting in 2023, with immediate plans to expand to Europe.

In a Reuters interview, Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, revealed this ground-breaking choice. The decision to accept cryptocurrency as payment was motivated by requests from both dealers and customers. Ferrari hopes to attract more people who have achieved success in the cryptocurrency space by including Dogecoin.

The option to pay for Ferrari luxury automobiles in US dollars using Bitcoin (BTC) and other cryptocurrencies was first made available in 2023. The business intends to soon expand this option to include Europe. In a Reuters interview, Ferrari’s Chief Marketing and Commercial Officer, Enrico Galliera, made the announcement and emphasized that the decision was motivated by requests from dealers and customers.

Ferrari’s decision to accept cryptocurrency payments fits with their aim of reaching out to prominent figures in the cryptocurrency space. In order to cater mostly to wealthy clients, enthusiasts in the US can now make bitcoin payments according to their demands. The company is currently exploring ways to expand this feature to additional payment service providers in order to roll it out in various areas.

Ferrari is nevertheless enthusiastic about advancing climate action in spite of worries regarding the carbon footprint connected to cryptocurrency. There are strategies to lessen the effects of the exponential rise of cryptocurrencies on the environment.

Energy is a major resource in cryptocurrency mining, especially for Bitcoin and Ethereum. An average Canadian family would need nine hundred and eighty kilowatts of energy, or three weeks’ worth of electricity, to complete one Bitcoin transaction. Significant carbon emissions are produced by this process, which unavoidably has an impact on the climate worldwide.