As Tesla CEO Elon Musk announces Bitcoin payment method in the EV store, his landlord billionaire also enters the same type of payment method for his tenants. Will Musk be his first Bitcoin payer?
On Thursday, April 8, Bitcoin.com has reported real estate billionaire Rick Caruso whom will be implementing a new payment method for his tenants. Through cryptocurrency like Bitcoin, the company that holds his real estate properties reportedly will accept this online currency soon as payment methods for his tenants.
Caruso Properties to accept cryptocurrency
Caruso is one of the most popular real estate billionaires in America. He is the proud owner of the Caruso Properties, which was first established in 1987. As per current rankings in Forbes, Caruso’s net worth is currently at $4.2 billion.
Over 2.5 million square foot of real estate properties are currently owned by the billionaire. In here, it includes multiple establishments, residences, town houses, offices, outdoor malls, or even apartments.
Probably the most-profitable property that Caruso has is the shopping establishment in Los Angeles, called The Grove. This was impressively built with people calling it as “one of the highest-grossing shopping and entertainment centers in the country.”
With that, many were surprised to see the all-time billionaire invest in something new: Bitcoin. As first reported on CNBC on Wednesday, April 7, his company will now follow the trend of businesses and “will begin accepting bitcoin as rent payment at its residential and retail properties.”
Surprisingly, Caruso has also mentioned in the interview that the bitcoin decision is a ‘long-term bet’ for the billionaire. He said that the company is expecting to use this online currency, not just for five years, but for the whole decade.
It’s not about the next year or five years. We’re looking forward to the next decade.
Earn cryptocurrency in loyalty
Aside from Caruso’s plans to dive in to crypto payments, the billionaire is also planning to allow its consumers to get cryptocurrency coins, in exchange of their loyalty program.
“Our loyalty program, what I envision in working with Gemini and the Winklevosses, is you will earn coin. You will earn a cryptocurrency,” he described, adding that consumers can then “spend at our properties.”
Will Elon Musk be his first Bitcoin payer tenant?
As of now, Caruso has not yet mentioned any updates on how his company will processed the said bitcoin payments, in case they pushed for it. However, there are speculations that another tech billionaire Elon Musk could make or break his decision regarding the bitcoin fiasco.
According to reports, Musk is one of Caruso’s tenants for over the years now. His establishment in Americana at Brand center in Glendale is currently owned by the Tesla billionaire. So far, Caruso said that “I haven’t talked to Elon about it. He may be the first, as a pioneer, to pay his rent in bitcoin.”
Of course, Elon has not yet confirmed nor deny these claims. Though, there are higher chances that he could be pushed to it since he is known to be a crypto-lover.