As Bitcoin’s price increases and it becomes more popular, companies have started to embrace it as a payment method. After all, they do know the amounts they receive as Bitcoin will act as a passive income source for the company. And in the long run, they will make a lot of money from it. One such company that has recently started accepting Bitcoin as a payment method is Real Estate firm Caruso. Yes, the same firm that Tesla has tied up with for some properties. According to the CEO of Caruso, the bet on crypto is a long-term one.
Real Estate firm Caruso now accepts BTC as rent.
The CEO of the company made the announcement regarding this new development. From 7th April, they have started to accept rent from customers using Bitcoin. This is the biggest change that we have seen in the real-estate sector recently. Caruso also announced its plan to convert 1% of its treasury into Bitcoin. And for that, they have partnered up with a crypto exchange called Gemini. The company has made it very clear that they believe in cryptocurrency and are investing in it for long-term benefits. From now on, they will even constantly allocate a particular amount that will proceed into Bitcoin.
This announcement even asked the question that will Tesla use Bitcoin to make rent payments? I did cover that topic! You can read it here. And for those who are wondering how big this change will be for crypto. It will be huge! Caruso is not a small company. They have a lot of properties, including malls, luxury apartments, and a lot of other properties. With such a huge size doing something as substantial as accepting BTC as payments will positively impact Bitcoin in the long run.
In fact, the company is also planning to work with the exchange to develop a loyalty program. Here customers can earn coins and then use them to pay at their properties. So, while relying on crypto, the company is also planning to make its own ecosystem that it can heavily benefit from.
The widescale acceptance of Bitcoin Elon talked about!
Do you remember when Elon said that “Bitcoin is on the verge of widescale acceptance”? Back then It made sense. And now we know why. In just a few months, many banks, companies, and individual investors who despised Bitcoin have started to invest in it. Banks like Goldman Sachs, Morgan Stanley, BNY Mellon all have started to accept and trade BTC. They even recommend their richest clients to invest some amount of their portfolio into Bitcoin. On the other hand, companies like Tesla, Square, Microstrategy, and others have poured millions into Bitcoin. All of this shows what Elon said and why it makes sense.
What are your thoughts on the Real Estate firm Caruso accepting rent in Bitcoin? And do you think that they will benefit from this move? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
Also Read: State Street will soon start trading crypto assets on their platform