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    Home » Crypto News » Real Estate Giant Teams up with Gemini to Buy Bitcoin and Allow BTC Rent Payments

    Real Estate Giant Teams up with Gemini to Buy Bitcoin and Allow BTC Rent Payments

    Author: Jordan Lyanchev

    Last Updated Apr 10, 2021 @ 09:58

    Real estate giant Caruso has gone neck-deep in bitcoin by allowing tenants to pay rent with BTC and making a significant investment in the asset.

    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 – 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 “significant initial investment” in the primary cryptocurrency as part of its treasury management strategy. The move has made the company “the first to adopt the technology in the real estate industry.”

    The firm completed the purchase through a partnership with Gemini, a US-based cryptocurrency exchange and custodian. The innovation reinforced the company’s 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:

    ADVERTISEMENT

    ”We believe that cryptocurrency is here to stay. We believe that bitcoin is the right investment for us. We’ve allocated a percentage of what would normally go into the capital market into bitcoin.”

    The billionaire went further and stated crypto is a long-term resolution and ”it’s not about the next year or five years”.

    ”We 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.” – commented Gemini’s 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 BTC’s 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 – PrivateFly. The organization revealed that nearly 20% of its yearly payments were paid in bitcoin.

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    Tags: Bitcoin Gemini Winklevoss Twins
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    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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