Now you can buy your next Ferrari with Dogecoin

Crypto bros across Europe will be very excited to hear that you will soon be able to buy a Ferrari with dogecoin – or any other major cryptocurrency, for that matter.

Following a trial run in the U.S., Ferrari’s scheme to incorporate cryptocurrency payments into its dealer network will soon be extended to the European market, meaning wealthy traders can purchase their dream car anonymously using blockchain technology as of the end of July.

To make this possible, the Italian maker has partnered with crypto specialists to automatically convert payments into “traditional” currencies – i.e. Pound Sterling, euro etc. – and protect transactions from the often dramatic fluctuations in the cryptocurrency markets.

While certainly a big name, Ferrari is not the first automotive brand to experiment with crypto as a form of payment; several BMW dealerships across the UK have begun to accept cryptocurrencies, while Tesla accepted Bitcoin for a short period in 2021.

Speaking earlier this year, CEO Elon Musk said Tesla “should enable [Dogecoin payments] at some point”. UK shoppers can already purchase certain products – primarily merchandise such as t-shirts and the electric Cyberquad – on the American EV brand’s website, with Musk’s comments triggering an eight per cent jump in the cryptocurrency’s value within 24 hours.

It appears then that it shouldn’t be too long before you can buy the UK’s best-selling electric car, the Tesla Model Y, with the Shiba Inu meme-inspired digital currency. While the majority of manufacturers are yet to incorporate blockchain tech as a form of payment, Alfa Romeo, for example, is providing Tonale, Giulia and Stelvio buyers with an NFT (non-fungible token) which records the car’s servicing and owner history.

Which Ferrari would you buy? Let us know in the comments section below...