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American Real Estate Giant Adds Bitcoin to their Balance Sheet

The non-fungible Tokens of NFTs allow users to buy land in a virtual real estate space. However, the original renditions of the property businesses are also joining in the digital currency platoon. It seems that Bitcoin is too big a profiteering opportunity that businesses are finding more and more difficult to ignore. The latest soldier to join the parade is Caruso, a real estate giant.

Caruso is a California-based real estate agency that has some of the biggest clients in the United States. It was founded by Rick Caruso in 1985 and has continued to expand its operations despite the COVID-19 scare. In a recent interview with the media, the company officials announced that they had added Bitcoin to their balance sheet to diversify their investment.

Real Estate Giant do not want to be left behind in the Bitcoin Race

Rick Caruso, the corporation’s existing CEO, told the media that his enterprise has decided to invest 1% of the treasure into the flagship cryptocurrency. The total amount of Bitcoin holdings is not revealed at the moment; however, Rick has told the media that he feels excited about the introduction of blockchain and digital currencies as much as he has been at the time of computer and internet transition. 

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He told LA Times that digital currencies are the way of the future, and he wants his organization to stay ahead of the curve and not miss out on the globally accepted currency. It should be noted that Caruso has many high-profile clients on its panel, including Elon Musk as a property tenant. Caruso has also partnered with Gemini, a US-based crypto exchange, to make the staking possible.

Real Estate Buyers can Now Pay for their Property Rent with Bitcoin

The California-based real estate agency CEO also told the media that the company has plans to start accepting BTC payments from its tenants. Rick Caruso is completely on board with the idea of digital economy transformation, and he also plans to expand the horizons by taking active participation in NFTs and other derivatives of the digital assets. 

The company also has plans to explore other cryptocurrencies like Ethereum, Bitcoin Cash, and other tokens for better exposure to blockchain technology. According to several financial analysts, the interest of traditional institutional investors will grow in Bitcoin as the asset’s volatility keeps reducing.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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