Giant US Real Estate Company Adopts Bitcoin as Payment Option
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Caruso, one of America’s largest real estate firms, has announced that it has integrated Bitcoin (BTC) into its operations and now accepts BTC payments for rent on its assets across the United States.
Founded by Rick Caruso in 1987, the real estate giant develops, owns, and manages real estate properties across several states in the US, including Palisades Village, the Americana at Brand, and the Waterside MarinaDel Rey.
Apart from accepting rent payments from its tenants in Bitcoin, Caruso also noted that it has allocated one percent of its treasury in the benchmark cryptocurrency, effectively becoming one of the first real estate companies to embrace distributed ledger technology (DLT) and cryptocurrency use.
To make its venture into the cryptocurrency industry a smooth one, Caruso Properties announced that it has signed a deal with the Winklevoss twins’ Gemini cryptocurrency exchange.
The real estate behemoth, whose tenant includes Elon Musk’s Tesla Inc., asserted that its decision to adopt Bitcoin payments and investment was not because of demand from its tenant but was a decision to diversify its portfolio in anticipation of the future, given how widespread cryptocurrency use and adoption is becoming.
Caruso noted that he “believe[s] [Bitcoin] is a good hedge and has already proven to be a good investment for us.” He added that BTC and blockchain technology have massive potential to disrupt traditional systems and institutions.
Key BTC Levels to Watch — April 8
Bitcoin continues to maintain a downbeat tone despite the recent bull run in the altcoin market. Nonetheless, the primary cryptocurrency appears to be gaining some bullish traction over the past 24 hours and is currently trading up by more than 3%.
That said, the cryptocurrency is now at the edge of the $58k pivot zone and needs to reenter and dominate this area to regain bullish momentum. The next few hours will be crucial for Bitcoin to resume its journey towards the upper-$60k area.
However, failure to break into the pivot zone in the coming hours could send the cryptocurrency down to the $57k area, where an ascending trendline and dip-buyers will serve as support.
Meanwhile, our resistance levels are at $58,000, $59,000, and $60,000, and our key support levels are at $57,000, $56,700, and $56,000.
Total Market Capitalization: $1.96 trillion
Bitcoin Market Capitalization: $1.07 trillion
Bitcoin Dominance: 55%
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