Caruso, a US-based privately held real estate company, headed by billionaire Rick Caruso, announced that they have partnered with Gemini exchange to bring Bitcoin payments to their Southern California properties.
Plus, they have also assigned 1% of their balance sheet to Bitcoin – following MicroStrategy and Tesla's steps. In the process, the company has officially become the largest real estate manager in the USA that accepts bitcoin as payment.
Bringing NFTs, Cryptocurrencies, And Blockchain Application To The Property Market
Caruso is not going to stop just at bitcoin; Caruso hopes that its partnership with Gemini is the beginning of a long association that brings blockchain technology, NFTs, and most importantly, cryptocurrencies to Caruso properties and the property market as a whole.
Caruso's endorsement of bitcoin is a sign of the belief that the real estate company has in bitcoin's future and the future of cryptocurrencies.
Rick Caruso, Founder, and CEO of Caruso commented on the partnership with Gemini
"We have partnered with the most innovative company in cryptocurrency management and blockchain technology because they are reinventing the way we do business for tomorrow. I believe Bitcoin and cryptocurrency will play an important role in our collective future, and working with Gemini now will bring unparalleled experiences and pioneering technology that add real value to our guest experience. We envision a myriad of opportunities where we can better engage our guests and enhance their experience on our properties, like introducing blockchain-enabled rewards and enabling cryptocurrency payments. Partnering with Gemini on consumer applications will bring endless options, but we also see a future of how this technology will bring people together."
Tyler Winklevoss, CEO of Gemini, was equally thrilled about the partnership, commenting:
"We are thrilled to partner with Caruso as they continue to push the real estate sector to new heights by embracing cryptocurrency for the benefit of both their customer experience and their business operations."
Bitcoin Continues To See Mainstream Adoption
This partnership also signals the continuing mainstream adoption of bitcoin, with the cryptocurrency now on the balance sheet of some of the world's most prominent companies.
MicroStrategy was the first to adopt bitcoin, converting a significant portion of its holdings into bitcoin. Following MicroStrategy's lead, companies like Tesla, Square, and several other publicly traded companies have converted some of their holdings into bitcoin.
Headquartered in Los Angeles, Caruso is among the most successful and profitable real estate companies globally, holding a portfolio that comprises retail, residential and mixed-use properties. It was founded by Rick Caruso in 1987, who continues to serve as CEO.
Gemini allows users on its platform to buy, sell and store over 30 cryptocurrencies. It was founded in 2014 by Tyler and Cameron Winklevoss to empower individuals through cryptocurrency. The company is based out of New York and undergoes audits conducted by the New York Department of Financial Services.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.