NEW YORK – In a significant move for luxury car sales and cryptocurrency use, Ferrari (NYSE:) has begun accepting as a payment option for its high-end vehicles in the United States. The iconic car manufacturer has partnered with BitPay to facilitate secure transactions, ensuring that its dealers receive fiat currency. This service is now available at ten Ferrari locations across the country for models including the SF90 Stradale, Purosangue, and Daytona SP3.
The adoption of Bitcoin by Ferrari marks a turning point in the automotive market and may signal a trend toward broader corporate acceptance of digital currencies. Ben Weiss, CEO of CoinFlip, considers this development to be a pivotal moment in 2023, likening it to the cryptocurrency initiatives previously undertaken by industry giants such as PayPal (NASDAQ:) and BlackRock (NYSE:).
Ferrari’s strategic decision also aligns with its environmental goals. The company is committed to achieving carbon neutrality by 2030 and has taken steps to address potential ecological concerns associated with cryptocurrency transactions.
While Ferrari forges ahead with Bitcoin payments, Tesla (NASDAQ:) provides guidance on the irreversible nature of such transactions through their “What You Need To Know If You Use Bitcoin” document. However, Tesla currently favors over Bitcoin due to environmental considerations. Elon Musk’s influence on the future of cryptocurrency is also anticipated to grow, potentially integrating crypto payments into the social media platform X, leveraging his experience from founding PayPal.
The move by Ferrari and other companies like Newegg to process crypto payments via BitPay reflects an increasing integration of digital currencies into mainstream commerce, despite ongoing debates about their environmental impact.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Bitcoin Price Surge Expectation: Will Cryptocurrency Start 2024 At USD 50,000?
Bitcoin price crossed the 43,000 mark for the first time since April 2022 (Pic: DALL-E)
Bitcoin (BTC) price surged past $43,000 Tuesday, the highest level for the cryptocurrency since April 2022. The stock was recently up over 4% in the past 24 hours to $43,492, according to CoinDesk data. The price of ether rose about 3%, to $2,301.
As the Bitcoin price is on the verge of touching $44,000 , investors wonder if BTC will continue to ride on the surge and start 2024 at $50,000. Well, it can. The stock has moved from $40,517 to $46,972 in one week. The Relative Strength Index (RSI) suggests that the momentum is still rising.
However, considering that BTC is already overbought, investors should be wary if its price pulls back.
Davinder Singh, Chief Technology Officer at RocketX Exchange, predicted a slight dip in Bitcoin before it mounts a new peak.
“Bitcoin’s price surge is intricately linked to the outlook for the Spot Bitcoin ETF. With a prevailing belief that it might secure approval in the initial stages of Q1, an air of optimism envelops the market, fueling the current upward trajectory. Following the anticipated approval, a slight dip is foreseen, setting the stage for a potential climb to new peaks.”
Several experts have said that the growing confidence in crypto has been fuelled by the expectations of the US Federal Reserve cutting interest rates in 2024 and the eventual approval of a Bitcoin ETF. “This surge represents a year-to-date peak for Bitcoin, showcasing an impressive 140% increase since the beginning of the year. More than just a numerical value on a chart, the surge in Bitcoin price reflects a broader shift in the sentiment around crypto. The current upward trend is largely attributed to mounting expectations of a potential approval by the SEC for a spot Bitcoin ETF in January,” said Rahul Pagidipati, CEO, ZebPay.
Scam targets cryptocurrency investors: Alberta Securities Commission
Scammers pretending to be from the Alberta Securities Commission are preying on people who have lost money in cryptocurrency investments, the regulator warns.
The commission has received complaints from people saying they’ve received unsolicited calls from someone who claimed to work for the ASC.
“In each instance, the person who received the call had previously lost money in an offshore crypto-related investment,” the regulator said in a media statement released Tuesday. “We believe that the individuals claiming to be ASC staff may be operating a recovery room scam, in an attempt to re-victimize investors who have already lost money.”
The ASC doesn’t ask people to send money, promote organizations that claim to recover lost funds, or initiate unsolicited communications requesting payment or personal banking information, the regulator said.
Anyone who’s contacted by a caller claiming to be from the ASC is asked to contact the commission’s public information officer by phone at 403-355-4151 or 1-877-355-4488, or via email at email@example.com.
The ASC’s warning comes on the heels of a report released Monday by the Financial Transactions and Reports Analysis Centre of Canada, which determined criminals are increasingly turning to cryptocurrency to hide their transactions and bypass traditional banking.
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What Is the Role of Cryptocurrency in the Field of Online Casinos? | Live Bitcoin News
We are currently experiencing a period that is characterized by rapid technological progress and increasing digitization. As a result, new financial instruments have emerged, particularly if we speak about the field of online gambling.
We are watching a significant transformation, as more and more players are getting involved in virtual gambling at a record pace. These websites provide convenient access and a great assortment of games, such as poker, roulette, slots, and more. However, the most noteworthy development is the integration of cryptocurrency monetary operations, which introduces a new dimension to this industry.
Top perks of digital currencies in the gambling sphere
Cryptocurrency is among the main advantages of modern gambling clubs. It presents a win-win environment for gamblers and online casinos. So, what are the other benefits of such payments?
Improved attitude toward players’ privacy is the first thing that comes to mind when we speak about the big pluses of the best rated Bitcoin casino. It is connected with the aspect of anonymity. As a rule, common online casinos require customers to present their personal and monetary details. At the same time, crypto platforms allow them to make transactions without going through the process of identification;
Another great perk compared to traditional payment solutions is the absence of the need to wait to complete transactions for a long time. Cryptocurrency reduces proceeding time to a minimum, making every payment near-instant. In addition to that, digital currencies cut down extra fees.
Easy access and exclusive offers attract lots of casino fans. Cryptocurrency is an accessible method for every player. It opens the door to online gambling for locations where this activity is restricted.
Also, crypto iGaming clubs always offer head-spinning promotions and unique bonuses. For example, you have an opportunity to get bonuses at Bitfiring Casino to see it for yourself.
The increased popularity of Bitcoin online casinos
The gambling field is in the process of increasing the popularity of crypto casinos. These casinos rely on blockchain options to facilitate transparent and verifiable transactions.
A key advantage of crypto casinos is their features of fair gaming, which employ special algorithms to guarantee the randomness and fairness of every gambling activity. That is why, we can see that the number of crypto casino visitors is increasing on a regular basis.
Potential challenges and issues
Cryptocurrencies offer various advantages for online gambling but they also present regulatory obstacles. The issue lies in the anonymity linked to these virtual assets, which makes it difficult to monitor transactions. This has raised concerns about potential unlawful activities such as money laundering. Regulatory authorities worldwide are grappling with these challenges, leading some countries to ban cryptocurrencies, while others are working towards establishing regulations that ensure their secure and lawful usage in online gambling.
Future tendencies about the connection between cryptocurrencies and online gambling
In the immediate future, the incorporation of cryptocurrencies into online gambling is expected to expand, potentially at a faster rate. The introduction of technologies such as Decentralized Finance (or shortly DeFi) could play a significant role in driving further changes in the industry. DeFi websites present the opportunity for users to generate interest in their crypto assets, opening up the possibility of an additional source of income.
As you can understand, the future of this perfect cooperation seems promising and bright. But at the same time, it will require additional aspects from the iGaming platforms and regulatory bodies. It will result in the appearance of new benefits and increased player numbers.
Image by Tamer Tourque from Pixabay
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