Ferrari’s Bitcoin acceptance is major market win, says CoinFlip CEO

Ferrari’s decision to allow U.S. residents to

According to industry analysts, the share of Bitcoin mining energy from renewable sources exceeded 50% as of mid-September 2023. However, Elon Musk’s Tesla still hasn’t adopted the BTC payment option after halting such payments in 2021 over carbon concerns.

“Tesla still accepts Dogecoin, and Elon continues to be a proponent of crypto,” CoinFlip CEO Weiss noticed, adding that the Tesla founder could also boost crypto adoption by introducing it to the social media platform X (formerly Twitter). He said:

“Elon also has significant experience with payments from his PayPal days and if Elon decides to bring payments to X, as many expect, crypto would be a natural payment rail.”

In a publicly accessible doc titled “What You Need To Know If You Use Bitcoin,” Tesla listed several facts about the cryptocurrency, including that Bitcoin payments are irreversible.

“That’s just the way the Bitcoin network works — no do-overs. So please make sure you enter the correct Bitcoin price in the amount field and the correct Bitcoin address in the recipient field,” the document reads.

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