U.S. Real Estate Giant Caruso Properties Adopts Bitcoin (BTC)

Friday 09 April 2021, 12:57 AM AEST - 2 weeks ago

Sequoia to Pay Interested Employees in Bitcoin

Caruso properties have announced that its now accepting bitcoin (BTC) for rent on all its properties. Just like MicroStrategy and several other companies across the globe, Caruso has allocated a portion of its balance sheet to bitcoin, according to a report on April 7, 2021.

Caruso Properties Joins the Bitcoin Movement

Caruso, one of the largest privately-held real estate firms in the United States, has integrated bitcoin (BTC) into its operations and is now accepting the worlds flagship cryptocurrency as a legitimate payment option for rent on its properties across the United States.

Established by Rick Caruso in 1987, Caruso (formerly Caruso Affiliated Holdings, LLC) develops, owns and manages properties in different areas of the U.S., including Palisades Village, the Americana at Brand, and the Waterside MarinaDel Rey, among others.

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In addition to accepting bitcoin for rent from its tenants, Caruso has also made it clear that its allocating one percent of its treasury to the super volatile cryptocurrency, putting its name in the history books as one of the first companies to embrace the gospel of distributed ledger technology (DLT) and cryptocurrency.

Caruso Diversifies Portfolio

In a bid to make its foray into bitcoin as smooth as possible, Caruso properties, whose tenant includes Elon Musks Tesla Inc., has joined forces with the Winklevoss twins Gemini cryptocurrency exchange.

The company has made it clear that its decision to add bitcoin as a payment option is not as a result of serious demand from its tenants, instead, its in an effort to diversify its portfolio and get itself prepared for the future, especially at a time when digital currencies are fast becoming a thing.

I believe [bitcoin] its a good hedge and has already proven to be a good investment for us, ...

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