Terrible For Buyers, Great For Crypto…

TL;DR

• Ferrari (seller of depreciating assets) is now accepting crypto → and the more companies see value in crypto payments → the more will adopt it → the greater value crypto will have in the world.

Full Story

We love it when we can find logic in what appears to be a complete gimmick.

And this is one of those moments…

Ferrari is now accepting crypto payments in Europe, and plans to extend the service to other markets by the end of the year.

Gimmicky? Sure. But also kinda genius.

This is like a candy shop figuring out how to drop ads in front of a kid the moment their allowance hits.

See, there’s a lot of newly-rich folk in the crypto space, who all of a sudden have more money than they know what to do with — and by accepting crypto payments, Ferrari is making it easier for the new-rich to make stupid financial decisions.

(Aka: buy expensive/depreciating assets).

We don’t necessarily endorse the decision. But it’s smart on Ferrari’s part.

Though, on the upside for the customer, depending on their tax residency, there might be some added perks.

In most countries, if you choose to sell your crypto, you’re going to have to pay tax in some way, shape, or form. But some locales don’t tax crypto if it’s being used as money (aka: being directly exchanged for goods).

(Australia was like that the last time we checked).

So some lucky degenerates can buy a glossy new car, and save a bunch on tax.

Here’s why it’s good for the broader crypto ecosystem either way:

The more companies see value in accepting crypto payments → the more will adopt it → the greater value crypto will have in the world.

Nice!