After pioneering cryptocurrency adoption, Elon Musk could take the next step and start paying rent in Bitcoin (BTC).
Although the “Technoking” made no announcement itself, on April 7th there was a report on a partnership between the real estate company Caruso Properties in Los Angeles and the Gemini cryptocurrency exchange founded by the Winklevoss twins.
After the partnership, Caruso will accept bitcoin rental payments for its various retail and residential properties. The company’s deal with Gemini also resulted in Caruso converting about 1% of its treasury into Bitcoin, the L.A Times reports.
Caruso owns the property where the Tesla dealership is located in the Americana at the Brand Center in Glendale, California. Elon Musk, CEO of Tesla, has so far proven to be a pioneer in the field of cryptocurrency – at least among the eccentric billionaires.
Would it be too much to expect Elon Musk to start paying rent in digital currency after acquiring $ 1.5 billion worth of Bitcoin and adopting BTC as payment for his Tesla electric vehicles?
Owner Rick Caruso said there was still no rush to pay the rent using bitcoin, but noted that the company’s investment had already proven to be profitable.
“I think it’s a good hedge and has already turned out to be a good investment for us,” said Caruso.
Caruso appears to be planning for the future by opening up its properties to potential Bitcoin buyers. He compared the adoption status of Bitcoin to that of credit cards fifty years ago – a strange and often untrustworthy technology that is commonplace in modern society today.
“I believe that bitcoin and blockchain will do the same thing in the future. We want to be ahead of the curve, ”added Caruso.
Tyler Winklevoss, CEO and co-founder of Gemini, said his company is “excited” that the use of cryptocurrencies is expanding into the real estate market, adding that the move would benefit both Caruso and its customers.
“We are very excited to be working with Caruso to further take the real estate sector to a new level through the introduction of cryptocurrency for the benefit of the customer experience and our own business operations,” said Winklevoss.