Real estate tycoon Grant Cardone’s private equity firm Cardone Capital announced a 1,000 BTC acquisition on Friday, June 27.
Cardone Capital Adds 1,000 BTC to Balance Sheet
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
The bitcoin (BTC) is worth more than $100 million at current prices and is part of Cardone’s foray into implementing a bitcoin treasury strategy after a curious meeting he had with Michael Saylor, Chairman of Strategy, earlier in the year. According to Cardone, a longtime Bitcoiner, the meeting with Saylor inspired him to set up a series of private funds that integrate the cryptocurrency with real estate in a way that maximizes investor capital. The latest such fund is Cardone Capital’s “10X Miami River Bitcoin Fund” which invests in both bitcoin and a 346-unit multifamily commercial property on the Miami River. “By combining two best-in-class assets, real estate, and bitcoin, we are building the most resilient and forward-thinking portfolio in the market,” Cardone said in a statement provided to Bitcoin.com.
About the author
WRITTEN BYBitcoin.com News DeskEditorial Desk Reporter
The Bitcoin.com News Desk publishes timely reporting on market developments, protocol updates, regulatory changes, and industry announcements across the cryptocurrency sector.
