On April 7, California real estate giant Caruso announced its partnership with Gemini crypto exchange to allow users of its properties to pay rent in Bitcoin. This includes both its residential and retail properties. According to the firm, “cryptocurrency has come to stay” and they are taking a “long-term bet” on the technology.
Per a L.A Times report, Caruso also converted a portion of its corporate treasury into Bitcoin. Thus, making it one of the earliest adopters of the asset in the real estate industry and the latest institutional investor in the scene. According to Rick Caruso, CEO of the company, BTC is the right investment for the company.
Elon Musk’s Tesla Could Start Paying Rent Using Bitcoin
With Caruso’s announcement that it is open to accepting BTC as payment for the rent of its properties, this means that Elon Musk’s company, Tesla, could be paying its rent using crypto as it uses two properties owned by the real estate company. The electric carmaker dealership store at Americana, and a Brand center in Glendale, California is owned by the Rick Caruso led company.
Gemini’s CEO, Tyler Winklevoss, said that the crypto company was “thrilled” with the partnership with Caruso. He added that the partnership will advance the real estate industry as many more people adopt the digital asset. The new partnership will, for sure, bring limitless opportunities to the space, such as taking up a mortgage in Bitcoin.