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bitcoin real estate mogul
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LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin
Reading Time: 3 mins read
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A massive LA-based luxury real estate firm has begun accepting Bitcoin for rent payments.

In addition to loading up on BTC for its corporate reserves, the company has also tapped popular exchange Gemini to help build a crypto centric ecosystem for its retail, residential, and resort customers.

Rick Caruso and Caruso Real Estate Tap Gemini For Crypto

American real estate company Caruso, led by billionaire Rick Caruso, revealed this week that the firm would begin accepting Bitcoin for rent payments at both retail and residential properties.

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The Los Angeles-based company offers stunning luxury properties in the area, including the Miramar Beach Resort, Palisades Village, Waterside at Marina Del Rey, The Commons at Calabasas, and many more.

Related Reading | Crypto CEO “Convinced” Of Bitcoin Cycle Top, Warns Of Sell Side Intensity

Through a partnership with the Winklevoss-owned Gemini, Caruso plans on further integrating cryptocurrencies into their company experience for consumers.

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“You can use that cryptocurrency on the blockchain then to spend at our properties. Check into our resort. When you live with us, pay your rent. We create this whole ecosystem,” Caruso explained.

The strategy is something that Caruso plans to roll out over the next decade, and part of a long-term plan. “It’s not about the next year or five years,” he said.

Caruso also tapped Gemini as a custodian for its “significant initial investment” in BTC as part of its “treasury management strategy” – making the company the first in the real estate industry.

Completely integrating crypto within its customer experience reinforces “the company’s belief in the robust future of cryptocurrency.”

bitcoin la real estate mogul rent

How much further can Bitcoin climb in another decade? | Source: BTCUSD on TradingView.com

The Boom Of Companies And Bitcoin Is Only Now Beginning

Caruso joins the growing list of corporations that have added BTC to their corporate treasure reserves, and more are coming.

A seminar led by MicroStrategy CEO Michael Saylor was intended to bring more businesses to the space by sharing his playbook.

Saylor’s lead also inspired the likes of Jack Dorsey’s Square Inc. and Elon Musk’s Tesla to start buying BTC. Dorsey also offers Bitcoin to customers through its Cash App, and Tesla added the ability to pay with the top cryptocurrency to buy its green vehicles.

Related Reading | Number Of Bitcoin Mentions In Company Earnings Reports Goes Parabolic

Companies that have done so have had substantial earnings to show for their innovative take. The mentions of Bitcoin in company earnings reports has gone parabolic recently, right alongside the asset’s price.

The proliferation of Bitcoin and other cryptocurrencies is only just beginning, and its potential application from real estate to payments and more will scale exponentially over the next decade and more.

Featured image from Shutterstock, Charts from TradingView.com
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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