Caruso, one of the largest US real estate companies, is venturing into Bitcoin. The company has purchased an as yet unknown amount of bitcoin, but will also make it possible for tenants to pay the rent in bitcoin. Collecting rent is made possible through a partnership with Gemini, the Winklevoss brothers’ cryptocurrency exchange.
Rick Caruso, founder and CEO of Caruso said the following:
We believe cryptocurrency is here to stay. We believe bitcoin is the right investment for us. We have allocated a percentage of what would normally go to the capital market to bitcoin.
Caruso further indicated that this crypto investment is a long-term plan. He does not look to next year or the next five years, but further ahead.
There was also a response from Gemini to the collaboration:
We are delighted to partner with Caruso as they take the real estate industry to new heights by embracing cryptocurrency for the benefit of both its clients and its own operations. We are happy to help them execute the digital asset investment strategy and advise them in a broader perspective on their cryptocurrency adventure,
said Tyler Winklevoss, CEO of Gemini.
With the investment in cryptocurrency, Caruso joins other large companies, such as Tesla on MicroStrategy, who have purchased substantial amounts of crypto.
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