After becoming a pioneer in the adoption of cryptocurrencies, Elon Musk could take the next step and start paying his rent in bitcoins (BTC).
While TechnoKing themselves did not make an announcement, there was one on the 7th. In April, news emerged of a partnership between Los Angeles-based real estate company Caruso Properties and cryptocurrency exchange Gemini, founded by the Winklevoss twins.
Under the partnership, Caruso will accept bitcoin payments for rentals at various retail and residential locations. The company’s deal with Gemini also enabled Caruso to convert about 1 percent of its assets into bitcoin, according to the L.A. Times.
Caruso owns the property where the Tesla dealership is located in American City, the brand’s hub in Glendale, California. Tesla CEO Elon Musk is still a pioneer in cryptocurrencies, at least among eccentric billionaires.
After buying $1.5 billion worth of bitcoins and then accepting bitcoins as payment for his Tesla electric cars, would it be too much to ask Elon Musk to start paying his rent in digital currency?
Owner Rick Caruso said there hasn’t been a rush to pay rent in bitcoin yet, but he noted that the investment the company has made has already paid off.
I think it’s good coverage and has already proven to be a good investment for us, Caruso said.
Caruso seems to be preparing for the future and opening up his properties to potential bitcoin buyers. He compared the status of bitcoin to that of credit cards fifty years ago, a strange and often unreliable technology that is now commonplace in modern society.
I think bitcoin and blockchain will do the same in the future. We want to be in the lead, Caruso continued.
Tyler Winklevoss, CEO and co-founder of Gemini, said his company was excited to see the use of cryptocurrencies spread into the real estate market, adding that the move would benefit both Caruso and his clients.
We are very excited to partner with Caruso as they take the real estate industry to new heights by using cryptocurrencies to benefit their clients and their own operations, Winklevoss said.
frequently asked questions
Does Tesla accept bitcoins?
Tesla now accepts bitcoin as payment for cars. Musk says Tesla will only use proprietary and open-source software, and that any bitcoin paid by the company will be stored as bitcoin and not converted to fiat currency.
Does Elon Musk Support Bitcoin?
Elon Musk is one of the biggest proponents of cryptocurrencies. The Tesla CEO’s tweets in support of bitcoin and dogecoin, as well as Tesla’s investments, have helped push up the price of the major cryptocurrencies in recent weeks, but one of his recent tweets has cost Musk $15.2 billion.
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