Real Estate Billionaire Buys Bitcoin, Accepts BTC for Rent Payment at His Residential and Retail Properties
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According to a Los Angeles Times report, Caruso Properties has partnered with Gemini cryptocurrency exchange to facilitate Bitcoin payments and investing in Bitcoin.
The report also stressed that 1 percent of the Caruso Properties treasury was converted to Bitcoin, but the deal’s estimated value was not disclosed. Caruso, who invested in Bitcoin and accepted Bitcoin payment, entered the Tesla league, which invested $ 1.5 billion in Bitcoin and started accepting Bitcoin as payment for Tesla cars.
Caruso collaborates with cryptocurrency exchange Gemini for these transactions. It has been announced that the purpose of this cooperation is to integrate the properties owned by Caruso, which is visited by millions of people, with cryptocurrencies, NFTs, and blockchain applications.
Caruso said that Bitcoin had proven its worth as a hedging asset. He also stated that diversifying the company’s financial situation is a good measure and has already proven to be a good investment. Hence, he desires to be in this Bitcoin and blockchain industry.
Elon Musk may be Caruso’s first client to pay rent in Bitcoin, as Tesla leased property from the billionaire’s real estate firm for a car dealership in Los Angeles. Musk recently announced that US customers could pay with Bitcoin for Tesla cars.
2021 is not just about a price increase for Bitcoin; it could be a boom year for mainstream adoption. While Fortune 500 companies such as Tesla and MicroStrategy and Caruso Properties use Bitcoin as a store of value, Bitcoin is now taking firm steps forward.
Bitcoin has recently climbed to record levels with support from major institutions. The said crypto money, which made more than 100% profit this year alone, has gained 600% value in the last 12 months.
Although the Bitcoin rally seems to have stalled slightly in recent days, it had retested the $ 60,000 record after Visa said it would pave the way for transactions with USD Coin and CME Group to announce it implement Bitcoin micro futures. In total, cryptocurrencies doubled their market value in just three months, reaching $ 2 trillion.
According to Wedbush analyst Daniel Ives, there is a positive increase in companies’ tendency to use Bitcoin as a payment method, and the current Bitcoin craze will not disappear; on the contrary, it will mark the beginning of a new era in the field of digital currencies. Despite this, the experienced analyst announced that he predicts that only 5% of publicly traded companies will invest in Bitcoin in the next 12-18 months.