Tesla owner accepts crypto; Will Elon Musk pay rent in Bitcoin?

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After becoming a pioneer in the adoption of cryptocurrency, Elon Musk could be about to take the next step and start paying rent in Bitcoin (BTC).

Although no announcement was made by “Technoking” itself, news broke on April 7 of a partnership between Los Angeles real estate company Caruso Properties and the cryptocurrency exchange Gemini, founded by the Winklevoss twins.

As a result of the partnership, Caruso will accept Bitcoin lease payments at its various commercial and residential properties. The company’s deal with Gemini also allowed Caruso to convert around 1% of its cash into Bitcoin, the LA Times reports.

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Caruso owns the property that houses the Tesla dealership of the Americana, at the brand’s center in Glendale, California. Tesla CEO Elon Musk has so far proven to be a trailblazer in the cryptocurrency space – at least among those in the eccentric billionaire slice.

After acquiring $ 1.5 billion worth of Bitcoin, then accepting BTC as payment for his Tesla electric vehicles, would it be too hard to expect Elon Musk to start paying rent in digital currency?

Owner Rick Caruso said there hasn’t been a rush to pay rent using Bitcoin yet, but noted that the company’s investment has already paid off.

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“I think it’s a good blanket and has already proven to be a good investment for us,” said Caruso.

Caruso appears to be planning for the future by opening up its properties to potential Bitcoin buyers. He compared the adoption status of Bitcoin to that of credit cards fifty years ago – a strange and often unreliable technology that is now common in modern society.

“I think bitcoin and blockchain will do the same in the future. We want to be ahead of the curve, ”added Caruso.

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Gemini CEO and co-founder Tyler Winklevoss said his company was “thrilled” to see the use of cryptocurrency expand into the real estate market, adding that the move would benefit both Caruso and his clients.

“We are excited to partner with Caruso as they continue to push the real estate industry to new heights by embracing cryptocurrency to benefit both their customer experience and their own business operations,” said Winklevoss.