Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Caruso, one of the largest estate companies in the US, has entered the BTC space with an undisclosed investment. The organization also revealed it will begin accepting bitcoin as payment for rent following a partnership with Gemini â the cryptocurrency exchange founded by the Winklevoss twins.
Pay Rent with Bitcoin
Without specifying the precise amount, Caruso announced earlier that it had made a âsignificant initial investmentâ in the primary cryptocurrency as part of its treasury management strategy. The move has made the company âthe first to adopt the technology in the real estate industry.â
The firm completed the purchase through a partnership with Gemini, a US-based cryptocurrency exchange and custodian. The innovation reinforced the companyâs confidence in the digitizing space.
Additionally, the firm enabled its tenants to pay rent with bitcoin, should they choose to do so.
Rick Caruso, founder, and CEO of the company weighed in on the topic:
âWe believe that cryptocurrency is here to stay. We believe that bitcoin is the right investment for us. Weâve allocated a percentage of what would normally go into the capital market into bitcoin.â
The billionaire went further and stated crypto is a long-term resolution and âitâs not about the next year or five yearsâ.
âWe are thrilled to partner with Caruso as they continue to push the real estate sector to new heights by embracing cryptocurrency for the benefit of both their customer experience and their own business operations. We are excited to help them execute their digital asset treasury strategy and advise them more broadly throughout their cryptocurrency journey.â â commented Geminiâs CEO Tyler Winklevoss.
The Los Angeles-based company has become a part of the growing institutional adoption of bitcoin around the globe. According to experts, companies like MicroStrategy, MassMutual, Tesla, and more are a vital factor behind BTCâs recent price increase.
Bitcoin as a Form of Payment
While Caruso may be the first firm from the real estate industry to adopt BTC as a payment method, companies from other sectors have well preceded it. Most recently, the popular NBA team Sacramento Kings said it will give the option to its players to receive their salaries in the primary cryptocurrency.
Another fresh example is the UK private jet company â PrivateFly. The organization revealed that nearly 20% of its yearly payments were paid in bitcoin.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.