Categories: Bitcoin News News

Real Estate Billionaire Rick Caruso Now Accepts Bitcoin for Rent on His Properties

advertisement

Rick Caruso, the American Real Estate billionaire announced that his company Caruso Properties would accept Bitcoin as a payment for rent on its properties across Los Angeles. Caruso Properties have partnered with Gemini cryptocurrency exchange to facilitate the Bitcoin payments and has also invested in Bitcoin as per a report in LA Times.

advertisement

The report also highlighted that Caruso Properties 1% treasury was converted to Bitcoin, however, the estimated value of the deal was not revealed. The recent Bitcoin investment and accepting Bitcoin payment has put Caruso in the league of Tesla who also invested $1.5 billion in Bitcoin and started accepting Bitcoin as a payment for Tesla cars.

Caurso said that Bitcoin has proven its worth as a hedging asset and explained,

advertisement

“I believe it’s a good hedge to diversify the company’s finances and has already proven to be a good investment for us.”

he added

“I believe bitcoin and blockchain are going to be doing the same in the future and We want to be ahead of the curve.”

Would Elon Musk Pay His Rent in Bitcoin?

Elon Musk may become the first client for Caruso to pay rent in Bitcoin as Tesla has rented a property from the billionaire’s real estate firm for a car dealership in LA. Musk recently announced that US customers can pay for Tesla cars in Bitcoin and also assured that the Bitcoin won’t be converted to fiat.

“I haven’t talked to Elon about it,” Caruso said. “He may be the first, as a pioneer, to pay his rent in bitcoin.”

This bull season Bitcoin is not just about price rise, in fact, 2021 could prove to be a breakout year for Bitcoin mainstream acceptance. Fortune 500 companies such as Tesla and MicroStrategy and now Caruso Properties are using Bitcoin as a Treasury reserve, while one can now pay rent and buy cars using Bitcoin.

To keep track of Crypto updates in real time, Follow us on Twitter & Telegram.

Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Share

Recent Posts

  • Press Release

Raze Network Kicks Off Testnet Phase with UI Community Voting

Singapore, Singapore, 11th May, 2021, Raze Network, the first Polkadot-based privacy protocol, is bracing to…

3 hours ago
  • News
  • Regulation News

Just In: Hungary to Reduce Tax on Crypto Gains by 50%

Hungary is going to cut the tax rates on crypto earnings by 50% starting next…

5 hours ago
  • News
  • NFT News

Just-In: Legendary Boxer Floyd Mayweather set to Launch his First NFT Collection

Floyd Mayweather, the boxing icon with 0 defeats against his name has become the latest…

6 hours ago
  • Bitcoin News
  • News

Billionaire Hedge Fund Manager Stanley Druckenmiller Says Hard to Unseat Bitcoin as Store of Value

Stanley Druckenmiller, the billionaire hedge fund manager and former chairman and president of Duquesne Capital…

7 hours ago
  • Press Release

BEPRO Network Releases Developer Alpha for DeFi and NFT Codebase

BEPRO Network has released its alpha version of its decentralized marketplace for blockchain code, bringing…

7 hours ago
  • Press Release

Shield Finance completes a $780K round to create a Defi Insurance aggregator leading up to an IDO

Chiang Mai, Thailand, 11th May, 2021, Shield Finance, a multi-chain DeFi insurance aggregator that will…

7 hours ago