LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

Tony "The Bull" Severino

Last Updated: June 11, 2024 2:14 pm

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.

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.

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.”

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.

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

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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