Tesla’s landlord to accept bitcoin after a partnership with Gemini.

After becoming a corporate pioneer in crypto adoption, Tesla CEO Elon Musk could be about to take the next step and begin paying rent in Bitcoin.

While no announcement has been made by the “Technoking” himself, news broke on April 7 regarding a partnership between Los Angeles real-estate firm Caruso Properties and the Gemini cryptocurrency exchange, founded by the Winklevoss twins. Following the partnership, Caruso will accept Bitcoin payments for rent at its various retail and residential properties. The firm’s deal with Gemini also saw Caruso convert about 1% of its treasury into Bitcoin, reports the L.A Times.  

 

Caruso owns the property that houses the Tesla dealership at the Americana. 

Caruso owns the property that houses the Tesla dealership at the Americana, at Brand center in Glendale, California. Tesla CEO Elon Musk has proven to be a pioneering figure in the cryptocurrency space — at least among those in the eccentric billionaire bracket. After acquiring $1.5 billion worth of Bitcoin and then accepting BTC as payment for his Tesla electric vehicles, Elon Musk might start paying rent in bitcoin as well. However, Rick Caruso said there hadn’t been a rush to pay rent using Bitcoin just yet but noted that the investment the company made had already turned out to be profitable.

 

Caruso might be planning to open its business to prospective Bitcoin buyers.

“I believe it’s a good hedge and has already proven to be a good investment for us,” Caruso noted. Caruso appears to be planning for the future by opening up his properties to prospective Bitcoin buyers as he compared Bitcoin’s adoption status to that of credit cards fifty years ago — an odd and often un-trusted piece of technology that is now commonplace in modern-day society. “I believe bitcoin and blockchain are going to be doing the same in the future. We want to be ahead of the curve,” Caruso added.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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