An iconic Ferrari F1 car has been sold by its driver Nigel Mansell using cryptocurrency Himalaya Dollar (HDO).
The 1989 Ferrari 640, driven by Mansell for Scuderia Ferrari in the 1989 F1 season, has been sold using the stablecoin listed on the Himalaya Exchange.
The transaction was completed for the equivalent of €3.6 million thanks to classic car auction house RM Sotheby’s. The buyer wishes to remain anonymous.
Owned by legendary F1 driver Mansell, the car has been retained in his personal car collection since 1989, having allegedly not been driven since its last grand prix race.
The Ferrari 640 earned the Italian race team 3rd in the 1989 World Constructors’ Championship and secured victory for Mansell at the Brazilian and Hungarian Grand Prix.
RM Sotheby’s believes that this is the first time in history that a Works driver has offered his own Grand Prix Ferrari publicly at auction. It is also the first Ferrari F1 car equipped with a semi-automatic gearbox.
“HDO has gained the trust of RM Sotheby’s. The exchange of HDO into the relevant currency was seamless,” said Bryon Madsen, president and chief strategy officer of RM Sotheby’s.
“The executives and staff at the Himalaya Exchange acted with the utmost professionalism.”
William Je, founder of Himalaya Exchange, said: “I am extremely pleased that the buyer decided to purchase this world-class car using HDO.
“Despite the cryptocurrency market’s recent dip, HDO has constantly remained stable with the US dollar 1:1 without fluctuation. Impressively, this makes HDO the only stablecoin in the world to maintain 100% during this time-period of uncertainty.
“Our military-grade technology has made Himalaya one of the most secure cryptocurrencies available in the marketplace.”