Cardone Capital posted on X on August 28 that Grant Cardone said the company has added approximately 1,200 bitcoins and about 2,000 multi-family residential units to its real-estate-backed bitcoin strategy. He said the $5.3 billion company is "increasing its commitment" to its multi-family and bitcoin model. Cardone did not disclose the purchase price of the bitcoin, the execution dates, or which funds received the bitcoin.
The company uses rental cash flows from income-producing apartments to continue buying bitcoin via a dollar-cost-averaging approach. Some selected private placement vehicles can allocate 15% to 50% of capital to digital currencies; investors receive an equity interest in the vehicle, while a third-party custodian is responsible for asset custody and trade execution. Cardone’s goal is to hold a total of 10,000 bitcoins across 10 funds. He previously reported holding about 1,000 bitcoins in January, including 282 bitcoins (about $18 million) purchased earlier and 130 bitcoins (about $9.7 million).
The company uses rental cash flows from income-producing apartments to continue buying bitcoin via a dollar-cost-averaging approach. Some selected private placement vehicles can allocate 15% to 50% of capital to digital currencies; investors receive an equity interest in the vehicle, while a third-party custodian is responsible for asset custody and trade execution. Cardone’s goal is to hold a total of 10,000 bitcoins across 10 funds. He previously reported holding about 1,000 bitcoins in January, including 282 bitcoins (about $18 million) purchased earlier and 130 bitcoins (about $9.7 million).