Billionaire Rick Caruso’s real estate firm will start accepting bitcoin as rent payment

SourceBusiness Insider
SectorReal Estate
CountryMiddle east

Billionaire Rick Caruso's real estate firm announced that it will start accepting bitcoin as rent payment - a first within the global residential and retail space. Caruso, one of the largest real estate companies in the US, is the latest in a growing list of major institutions from Tesla to PayPal that have begun to accept the digital asset as a form of payment, subject to applicable laws, the company said on Wednesday. The Los Angeles, California-based company also announced that it invested part of its treasury management in bitcoin, similar to what Jack Dorsey's Square did in October last year, and partnered with Winklevoss-founded Gemini, a cryptocurrency exchange and custodian. This partnership intends to bring cryptocurrency, non-fungible tokens, and blockchain applications to Caruso properties as a way to engage their millions of visitors, the company said, "I believe bitcoin and cryptocurrency will play an important role in our collective future," Caruso said in a statement. The executive also said that he hopes to more...