After Partnering with Gemini, Tesla’s Landlord is set to Accept Bitcoin (BTC)
As per the latest reports, a partnership has been formed between Caruso Properties and Gemini Cryptocurrency Exchange. The news regarding the partnership between Caruso Properties and Gemini was brought forward by media sources on Wednesday, April 7, 2021.
Caruso Properties is a famous real estate firm that is based in Los Angeles, while Gemini crypto-exchange is one of the most prominent exchanges, and it was founded by the Winklevoss twins.
Although the reports have started coming out, yet the “Technoking”, Elon Musk is yet to confirm the reports whether are legit or not.
It is now being reported that after the partnership, Caruso Properties will now be able to accept payments for rents in Bitcoin (BTC). So far, it has been revealed that the real-estate firm will be receiving rent payments on several residential as well as retail properties.
The sources have also revealed that following the partnership, Caruso Properties has also taken a step further in the crypto-verse. The sources are claiming that part of the partnership included Caruso Properties investing a certain percentage of its treasury into Bitcoin (BTC).
Rumors are that Caruso Properties has already converted 1% of its treasury into Bitcoin (BTC) and plans to invest even more in the coming months or years.
Now the main question is that what is the link between Tesla/Elon Musk and Caruso Properties?
Caruso Properties reportedly owns the estate where one of Tesla’s dealerships is located. The particular dealership is located in Glendale, California at the Brand Center (Americana).
In recent months, Elon Musk has turned out to be one of the proponents of Bitcoin (BTC). He is one of the billionaires that have started investing in Bitcoin (BTC) and he also had Tesla invest in Bitcoin (BTC).
Back in February of 2021, it was reported by the US Securities and Exchange Commission that Tesla had invested $1.5 billion in Bitcoin (BTC). The company had also revealed in their filing at the SEC that the company intends to invest more in Bitcoin (BTC) in the future.
Similarly, Elon Musk has been giving in a lot of input when it comes to cryptocurrencies. Initially, he was seen siding with DogeCoin, and then he fully started supporting Bitcoin (BTC).
In the mid of February, Bitcoin (BTC) was struggling to make it back to the $50k per BTC market after crossing it in the month of January. However, the digital asset wasn’t finding much luck, which is when the announcement from the SEC regarding Tesla’s investment in BTC came.
The announcement did the magic for Bitcoin (BTC) and soon, it managed to cross the $50k mark. The major reason was the trust that the mainstream institutions have in Tesla and the billionaire (Elon Musk).
Keeping the above in mind, it can be said that Elon Musk would eventually start paying the rent in Bitcoin (BTC), as he wouldn’t dislike the idea of doing so.