A few weeks ago , Tesla’s activities in the crypto market caused a stir. The electric car manufacturer, headed by Elon Musk, bought Bitcoin (BTC) for a billion euros and caused a hype among investors. In the course of the major investment, Elon Musk also announced that he could imagine accepting the leading cryptocurrency as a means of payment for his vehicles. According to current reports, however, Tesla could also make payments in BTC itself, because the landlord of one of the Tesla sales outlets will accept payments in Bitcoin in the future. Therefore, it could be that Tesla itself not only makes payments in BTC, but also settles bills in the form of the crypto currency.
In the future, Caruso Properties will accept rental payments in Bitcoin
The American company Caruso Properties is a property management company based in Los Angeles. In addition to many private properties, the company also manages space for companies. One of Caruso Properties’ most famous customers is undoubtedly Tesla. Tesla boss Elon Musk has been renting a property from the property manager’s portfolio for several years. The electric car manufacturer has set up a sales center in the Brand Center in Glendale, California. Caruso Properties is now apparently planning to add an interesting addition to its customers’ payment options. In the future, the company will accept rental payments in the form of Bitcoin, the largest cryptocurrency by market capitalization.
To this end, the property manager entered into a partnership with the Gemini trading exchange. The American exchange is best known for its founders and crypto veterans Tyler and Cameron Winkelvoss. Caruso wants to give its private and commercial customers the opportunity to make payments in the form of cryptocurrency. Part of the cooperation is, among other things, the agreement that Caruso converts 1 percent of its cash reserves into Bitcoin. Rick Caruso, founder and managing director of the property manager, explained that there has been an increasing demand from tenants for some time to be able to make rent payments in BTC. However, there has not yet been a rush to the new payment method. At the same time he stated in an interview, that the investments made have already turned out to be lucrative. However, he did not give any specific figures.
— Tyler Winklevoss (@tyler) April 8, 2021
Caruso CEO describes BTC investment as “a good hedge”
Rick Caruso said he thinks diversifying his assets into BTC is a good hedge. He also promises to be able to address a wider audience through the integration of the cryptocurrency. He compares the current Bitcoin boom with the triumph of the credit card a few decades ago. Initially ridiculed and frowned upon, today credit cards are one of the most widely used payment options. Rick Caruso: “I believe that Bitcoin and Blockchain will develop in the same way in the future. We want to be ahead of the times ”. In addition to the CEO of the property manager, Tyler Winkelvoss also commented on the subject.
Winkelvoss and Gemini are enthusiastic about how the cryptocurrency is gradually making its way into the real estate market. The co-founder of Gemini believes Caruso Properties is the right move and believes in long-term acceptance and use among tenants. Tyler Winkelvoss is looking forward to working with the real estate company and expects a fruitful partnership that will not only benefit both sides, but also the general acceptance of cryptocurrencies.
Conclusion: Bitcoin is expanding acceptance in the real estate market
Caruso Properties, an American real estate manager who is known among other things as the landlord of a large Tesla sales outlet, is now accepting rental payments in Bitcoin. The company wants to position itself more broadly and integrate the Bitcoin trend into its structures. As a result, it is possible that Tesla will transfer its rents for its point of sale in Glendale in the form of BTC to Caruso in the future.
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In this context, the real estate manager, led by Rick Caruso, entered into a partnership with the American crypto exchange Gemini. In addition to processing payments, the two companies also agreed that Caruso would convert and store 1% of its cash reserves in BTC. Tyler Winkelvoss, co-founder of Gemini, called the move an important sign of the acceptance of Bitcoin in the real estate market.