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bitcoin real estate mogul

LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

Tony "The Bull" by Tony "The Bull"
2 years ago
in Bitcoin
Reading Time: 3 mins read

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.

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.

“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 "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

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