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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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Home Web 3

Terrible For Buyers, Great For Crypto…

July 26, 2024
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Terrible For Buyers, Great For Crypto…
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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.

READ ALSO

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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).

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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!

Tags: buyersCryptoGreatTerrible

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

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Tezos 2023 Outlook: An Overview of Tezos (XTZ)

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UK risks regulating NFTs the wrong way, says Mintable CEO

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Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024

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Bitcoin’s post halving correction could pull BTC’s price by 20% IF…

Bitcoin’s post halving correction could pull BTC’s price by 20% IF…

April 18, 2024
how to get the crypto airdrop

how to get the crypto airdrop

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MARA Purchases Bitcoin in September, Expands Hashrate, and Holds Mined BTC

MARA Purchases Bitcoin in September, Expands Hashrate, and Holds Mined BTC

October 3, 2024
Ethereum Foundation’s ETH sales draw attention: $12.2M raked in 2024!

Ethereum Foundation’s ETH sales draw attention: $12.2M raked in 2024!

December 11, 2024

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