Rick Caruso Invests in Bitcoin and Blockchain, Moves for Tenants to Pay Rent in Crypto

His eponymous company has partnered with Gemini for transactions.

Real estate mogul Rick Caruso is putting his stake in the cryptocurrency field.

His company Caruso announced this month that it is allowing both residential and retail renters at its properties to pay their rent through Bitcoin. The Los Angeles–based firm partnered with the cryptocurrency exchange and custodian group Gemini, led by CEO Tyler Winklevoss.

The developer, whose company is behind Los Angeles–area malls such as The Grove, stated that Bitcoin and other cryptocurrencies are part of the future, saying in a CNBC interview that the company had invested in Bitcoin rather than capital markets. Bitcoin’s value has been rising since fall 2020.

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