Caruso, one of the largest real estate companies in California, has decided to accept Bitcoin (BTC) as a preferred mode of accepting rent payments. According to a CNBC report, the company will also directly invest in Bitcoin and other cryptocurrencies.
Reports say that the real estate giant is betting big on Bitcoin. Rick Caruso, the founder and CEO of the company, announced that he has invested an undisclosed amount of money in Bitcoin through his firm. The company will reportedly start accepting Bitcoin as rent payment for both of their retail and commercial properties. In an interview with CNBC, Rick Caruso said that he believes cryptocurrencies are here to stay.
He also underscored that his firm is purchasing Bitcoins as a long-term strategy with a vision of at least 10-years. Rick made it clear that the amount his company invested in Bitcoin is “a percentage of what would normally go into the capital markets”.
Reports say that the real estate firm Caruso has partnered with one of the largest US-based Bitcoin exchanges, Gemini, to purchase Bitcoin. In fact, the custody for the investment is also provided by Gemini.
With this announcement, Caruso joins other major corporate entities (including Tesla, Microstrategy, and Square) that have invested in Bitcoin and other cryptocurrencies. As per BitcoinTreasuries.org, more than 50 companies hold around 1.4-billion Bitcoins, worth around US$81.8 billion. 1.4-billion BTCs are around 6.77% of the total supply of Bitcoin.
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