In a latest development, Tesla’s landlord Caruso based in Los Angeles has announced that it would be accepting cryptocurrency payments for its real estate rents around the world. This would put self-appointed Technoking Elon Musk in a scenario in which he might even be willing to pay company rent in Bitcoin.
Tesla Landlord Now Accepting Bitcoin
Caruso, the landowner on which Tesla has built some of its massive manufacturing infrastructures is one of the biggest property developers and landlords in California. In a latest press release, the group announced that it had formed signed a partnership with Gemini, the cryptocurrency exchange owned by Bitcoin billionaire duo Cameron and Tyler Winklevoss. With this arrangement in place, Caruso can now go on accepting Bitcoin from its tenants around the country.
Caruso isn’t just accepting rent in Bitcoin, according to the recorded partnership points, Caruso has also invested 1% of its entire worth in Bitcoin too. This shows that the move by the Real Estate company is not just a gimmick to impress investors and the public but a genuine foray into the cryptocurrency world.
Enter Elon Musk and his Increasing Crypto Mania
Elon Musk, Tesla Technoking (CEO) is betting big on Bitcoin. From constant tweets from his official platform regarding the cryptocurrency sector especially Bitcoin to investing a huge $1.5 billion into Bitcoin directly through Tesla, Musk is going all in. Now there is a direct connection between Caruso and Tesla, Musk might be incentivized to respond and pay his rent in Bitcoin to his landlord. Given his eccentric personality and the fact that he never ever leaves a chance to go viral, especially when it comes to Bitcoin and crypto, it is highly likely that he will jump on the opportunity and start paying directly with Bitcoin.
Musk Treading a Fine Line with the SEC?
Musk’s problems with the Securities and Exchange Commission (SEC) are not a new ordeal as the latter fined the Tesla CEO back in 2018 for indulging in illegal investor information dissemination. He was subsequently removed as Tesla Chairman even though his CEO post wasn’t touched. Musk has responded later by saying that he doesn’t respect what SEC does. Over the last few years, his wealth and influence has further skyrocketed too, making him and the the federal regulators more and more evenly matched for a new showdown. Tesla has already started accepting car payments in Bitcoin with no plans to convert them back to USD according to various news sources.
If Musk pays rent in Bitcoin, it would start another trend and will definitely worry the American government and institutions as direct Bitcoin payments would mean the US Dollar would certainly take a hit. It will be interesting to see how the anticipated episode will unfold in the coming weeks.
Image source: Dan Lundmark under CC