Cardone Capital, a real estate investment firm, made a significant investment in Bitcoin by acquiring 1,000 BTC. This investment marks an important milestone for the company and the cryptocurrency market as a whole.
First Move into Bitcoin
Cardone Capital, known for its founder Grant Cardone, announced its purchase of 1,000 Bitcoin worth over $101 million. According to Cardone, this is just the beginning, with plans to acquire another 3,000 BTC by the end of the year. 'We just made our first Bitcoin purchase. 1,000 BTC now sits on Cardone Capital’s balance sheet,' he shared on social media.
Launch of 10X Miami River Bitcoin Fund
In May, Cardone Capital launched the 10X Miami River Bitcoin Fund, which combines physical real estate with digital assets. The fund includes a 346-unit multifamily commercial property located on Miami’s waterfront and a $15 million Bitcoin allocation. Cardone revealed that the concept for the fund stemmed from his brother's advice to utilize cash flows from real estate to gradually accumulate more Bitcoin.
Shift in Institutional Investment Strategy
Cardone’s move could mark a turning point for Bitcoin adoption within the private equity real estate sector. Traditionally, companies in this sector focus on stable, yield-generating investments. By allocating capital to a volatile digital asset, Cardone Capital signals a shift in investment approaches and risk appetites among institutional investors.
Cardone Capital's investment in Bitcoin and ambitions to expand its digital asset portfolio highlight changing approaches to capital management in the real estate sector. The fusion of income reliability from real estate with the long-term appreciation potential of Bitcoin may inspire other companies to adopt similar strategies.
