Cardone Capital, run by entrepreneur Grant Cardone, has bought around 1,000 Bitcoin. This move makes them the first real estate company to fully integrate BTC into their business strategy.
As per the post from Grant Cardone, the company already owns over 14,200 rental units and half a million square feet of top-rated office space. Now, they’re combining those real estate assets with Bitcoin, calling both “best-in-class” investments. Cardone Capital isn’t stopping at 1,000 BTC. The company plans to buy an additional 3,000 BTC and expand its real estate portfolio with another 5,000 units by the end of this year.
Currently, Bitcoin is trading at around $102,000. At this price, Cardone Capital’s BTC holding is worth over $100 million. If the company follows through with its plan to acquire 3,000 more BTC, its total crypto holdings could exceed $400 million.
The move follows a growing trend of institutional Bitcoin adoption, echoing the strategies of companies like Tesla and Strategy. Even, MicroStrategy founder and well-known Bitcoin advocate Michael Saylor congratulated the move, replying to Cardone on X (formerly Twitter) with, “Congratulations on acquiring 1000 BTC.”
With real estate and crypto often seen as opposing ends of the risk spectrum, this combination could appeal to a new class of hybrid investors.
Also Read: Bitcoin Crash Can Kill Michael Saylor’s Strategy: Wall Street Analysts