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Real estate guru Grant Cardone has taken advantage of the recent Bitcoin dip to add to his company’s balance sheet.
“CardoneCapital adds another ~300 BTC to Real Estate Bitcoin Hybrid,” Cardone said on Oct. 10 on X as tariff panic on the day briefly sent Bitcoin as low as $102,000 from a high of $122,500.
The purchase resulted from the market filling a limit order set at $108,000, according to a receipt Cardone shared on Oct. 16 on X. The receipt showed that the actual amount purchased was 261 BTC for about $28.2 million.
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Meanwhile, on the same day, Cardone Capital added another 200 BTC worth nearly $22 million at $108,000 per coin, Cardone said, bringing the total over the week to 461 BTC for about $50 million.
The purchases are intended to power Cardone Capital’s growing line of hybrid funds, which ultimately aim to combine 15,000 apartment units with 10,000 BTC, Cardone said. The most recent fund, the 10x Boca Raton Bitcoin Fund, combines 366 multifamily units with $100 million in Bitcoin.
The strategy aims to enable investors to capture the stability and cash flow of real estate, while also benefiting from Bitcoin’s volatility and upside potential. Rent from real estate is used to add BTC to the fund, with investors betting on an increase in the value of the property and Bitcoin.
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“By branding and adding Bitcoin on a reserve, the real estate takes on a whole new possibility of being both light and heavy, volatile and stable, liquid and illiquid,” Cardone told South Florida Business Journal in June.
Cardone at the time said the hybrid funds were the result of a need for Cardone Capital to differentiate. He said at some point, “a pool is a pool” and “a roof is a roof.”
The strategy may already be bearing results. Cardone said at the time that he had added Bitcoin to five properties and these properties outperformed 40 other properties he owned.
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Cardone has become increasingly bullish on Bitcoin over the past year, declaring himself a “Bitcoin fanboy” in December and hailing the asset for its scarcity.