Tesla’s landlord accepts crypto; will Elon Musk pay rent in Bitcoin?

After turning into a company pioneer in cryptocurrency adoption, Elon Musk could possibly be about to take the subsequent step and start paying lease in Bitcoin (BTC).

Whereas no announcement has been made by the “Technoking” himself, information broke on April 7 concerning a partnership between Los Angeles real-estate agency, Caruso Properties, and the Gemini cryptocurrency trade, based by the Winklevoss twins.

Following the partnership, Caruso will settle for Bitcoin funds for lease at its numerous retail and residential properties. The agency’s cope with Gemini additionally noticed Caruso convert about 1% of its treasury into Bitcoin, reports the L.A Occasions.

Caruso owns the property which homes the Tesla dealership on the Americana, at Model middle in Glendale, California. Tesla CEO Elon Musk has to this point confirmed to be a pioneering determine within the cryptocurrency area — at the least amongst these within the eccentric billionaire bracket.

After buying $1.5 billion value of Bitcoin, after which accepting BTC as fee for his Tesla electrical automobiles, wouldn’t it be an excessive amount of to anticipate Elon Musk to begin paying lease within the digital foreign money?

Proprietor Rick Caruso stated there hadn’t been a rush to pay lease utilizing Bitcoin simply but, however famous that the funding the corporate made had already turned out to be worthwhile.

“I consider it’s a very good hedge and has already confirmed to be a very good funding for us,” stated Caruso.

Caruso seems to be planning for the longer term by opening up his properties to potential Bitcoin patrons. He in contrast Bitcoin’s adoption standing to that of bank cards fifty years in the past — an odd and infrequently un-trusted piece of expertise that’s now commonplace in modern-day society.

“I consider bitcoin and blockchain are going to be doing the identical sooner or later. We need to be forward of the curve,” Caruso added.

CEO and co-founder of Gemini, Tyler Winklevoss, stated his agency was “thrilled” to see cryptocurrency utilization prolong to the true property market, including that the transfer would profit each Caruso and its clients.

“We’re thrilled to accomplice with Caruso as they proceed to push the true property sector to new heights by embracing cryptocurrency for the advantage of each their buyer expertise and their very own enterprise operations,” stated Winklevoss.