American businessmen and real state manager Rick Caruso will allow its tenants to rent his properties with Bitcoin, starting at the Grove shopping centre and other properties.
As reported by the LA Times, Caruso Properties has partnered with cryptocurrency exchange Gemini, to handle all of its crypto payment operations and has invested 1% of its treasury in Bitcoin as part of the partnership.
Gemini Interview with Rick Caruso on CNBC
Elon Musk Could Be The First Visitor To Pay Rent with BTC
Caruso Properties is the first Real Estate to accept bitcoin as payment, and Caruso also owns the property that houses the Tesla dealership in the Americana, at Brand centre in Glendale, California.
“I haven’t talked to Elon about it. He may be the first, as a pioneer, to pay his rent in bitcoin.”
Rick Caruso
Bitcoin Is Similar to Credit Cards in the 50s
Surprisingly Caruso added that there had not been demand from tenants to pay rent with Bitcoin, but he sees a great opportunity in crypto-assets and their technology, comparing them to credit cards in the 50s where it was odd to use them, but soon becoming mainstream:
“I believe bitcoin and blockchain are going to be doing the same in the future. We want to be ahead of the curve.”
Rick Caruso
When Will Australia Follow Suit?
Some Australian businesses are now accepting cryptocurrencies as payment, but to our knowledge there are not yet any Real Estate companies to accept rent in Bitcoin.
One thing is sure is that the institutional adoption of crypto-assets has increased tremendously since payment companies like PayPal let custody of digital assets and exchange them for fiat to buy anywhere around the world.
Many in the crypto-community believe expect that crypto-payments and adoption will expand further, as cryptocurrencies become better known in the mainstream.
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