Los Angeles-based Caruso Properties is now allowing its tenants to pay rent with Bitcoin cryptocurrency.  It’s the first to adopt the technology in the real estate industry, accepting Bitcoin for both residential and retail rents. Caruso Properties, one of the largest real estate and hospitality companies in the United States, has partnered with Gemini, a cryptocurrency exchange and custodian headquartered in New York. “It’s not about the next year or five years,” company founder and CEO Rick Caruso said in a statement last week. Caruso said he is taking a long-term bet on cryptocurrency and he believes it’s here to stay. “I believe Bitcoin and cryptocurrency will play an important role in our collective future,” Caruso said. “Working with Gemini now will bring unparalleled experiences and pioneering technology that add real value to our guest experience.” Understanding Cryptocurrency Bitcoin was created by Satoshi Nakamoto, a pseudonymous person or team who outlined the technology in a 2008 white paper, according to Coinbase.com. Essentially, Bitcoin …