Rick Caruso Partners With Gemini To Accept Bitcoin For Rent Payments, More

Bitcoin BTC/USD continues to make headlines as companies add the cryptocurrency to their balance sheets.

Popular companies like Tesla Inc TSLA and Square Inc SQ recently invested in Bitcoin, leading many to believe its stability and reliability may be higher than ever before.

Developer and real estate investor Rick Caruso and Gemini co-founder and CEO Tyler Winklevoss appeared on CNBC's "Power Lunch" Wednesday to discuss a new partnership.

Cryptocurrency is here to stay and Bitcoin is the right investment for Gemini, Caruso told CNBC. The things that Gemini are doing will be a "game-changer in the retail experience for consumers," he said. 

Caruso envisions a loyalty program in which consumers can earn cryptocurrency that can be spent at Caruso properties, used for check-in at resorts and for the payment of rent.

Bitcoin has had a very good, long run and "we believe in it," he said.

Cryptocurrency will have to be a part of any 21st century retail or real estate experience, said Gemini CEO Winklevoss.

The company issues its own stablecoin, "Gemini Dollars," so that people can spend dollars on the blockchain as opposed to spending Bitcoin.

Gemini was founded in 2014 and allows customers to buy, sell and store digital assets. 

Price Action: Bitcoin has been on an aggressive upswing, climbing more than 660% over a one-year period.

Image by Pete Linforth from Pixabay