LA Real Estate Mogul, Rick Caruso took to CNBC with Gemini’s Tyler Winkelvoss to announce that Caruso will begin accepting bitcoin as rent payment at its properties, which include The Grove and The Americana.
In addition to the announcement, he said that “We’ve allocated a percentage of what would normally go into the capital markets into bitcoin.”
As far as a real world use case, CNBC reported Caruso saying: “Our loyalty program, what I envision in working with Gemini and the Winklevosses, is you will earn coin. You will earn a cryptocurrency,” Caruso said. “You can use that cryptocurrency on the blockchain then to spend at our properties. Check into our resort. When you live with us, pay your rent. We create this whole ecosystem.”