Cardone Capital Adds 1,000 BTC to Balance Sheet, Aims for 3,000 BTC and 5,000 Residential Units by Year-End: A Bold Move in the Crypto Market
Grant Cardone, the renowned real estate investor, has made a significant move in the cryptocurrency market by announcing that his firm, Cardone Capital, has added 1,000 BTC to its balance sheet. This move makes Cardone Capital the first real estate/BTC company to integrate a full BTC strategy, combining two of the best assets in their respective fields.
At current market prices, the purchase is worth just over $100 million. If Cardone Capital were a publicly traded company, this acquisition would place it among the top 30 corporate bitcoin holders globally, ranking near the 29th largest, according to bitcointreasuries.
Cardone revealed that Cardone Capital currently holds 14,200 residential units and over half a million square feet of Class A office space. The firm expects to add another 3,000 BTC and 5,000 residential units before the year ends.
Back in January, CoinDesk reported Cardone's intention to use real estate cash flow to acquire Bitcoin, signaling a long-term crypto investment strategy. With this recent move, it's clear that Cardone and Cardone Capital are committed to diversifying their portfolio and taking advantage of the growing popularity and potential of Bitcoin.
As the world of finance continues to evolve, it's exciting to see traditional industries like real estate embracing digital assets like Bitcoin. It remains to be seen how this integration will play out in the long run, but for now, it's clear that Cardone and Cardone Capital are at the forefront of this exciting new trend.
