Cardone Capital Makes History with Bitcoin Treasury Strategy
Cardone Capital has made history as the first real estate investment firm to fully embrace a Bitcoin treasury strategy by adding around 1000 Bitcoin to its balance sheet. This strategic move, according to CEO Grant Cardone, signifies the fusion of two top-tier assets – real estate and Bitcoin – within the company’s broader investment approach.
The transaction, valued at approximately $101 million based on current market prices, places Cardone Capital ahead of crypto mining giants like Core Scientific and Cipher Mining in terms of BTC holdings. The firm plans to acquire an additional 3,000 BTC by the end of 2025, potentially increasing its total BTC holdings to over $400 million.
With over $5 billion in assets under management, including more than 14,200 rental units and 500,000 square feet of office space, Cardone Capital is a significant player in the real estate industry. The decision to incorporate Bitcoin into its investment strategy stems from the firm’s earlier efforts to integrate digital assets into its real estate portfolio.
In May, Cardone Capital launched the 10X Miami River Bitcoin Fund, a unique investment vehicle that combines real estate and cryptocurrency. This fund includes a 346-unit apartment complex on the Miami River, paired with $15 million in Bitcoin. A portion of the rental income from the property is designated for conversion into BTC, facilitating ongoing digital asset accumulation.
Grant Cardone’s interest in blockchain technology dates back to early 2024 when he listed his $42 million Golden Beach property on Propy, a blockchain-based real estate platform. The platform leverages a decentralized title registry and escrow protocol to enable secure transactions, offering properties for sale in both Bitcoin and USD. Cardone expressed his belief that blockchain technology will revolutionize the real estate industry, emphasizing the importance of seamless and immutable transactions.
In a week marked by notable Bitcoin acquisitions, other public companies have also entered the fray. Parataxis Holdings, a New York-based investment firm, announced its intention to acquire South Korea’s Bridge Biotherapeutics for approximately $18 million, transforming the biotech company into Parataxis Korea – a publicly traded Bitcoin-native treasury firm. The revamped entity will adopt a long-term BTC accumulation strategy while maintaining its biotech operations.
Similarly, Canadian digital assets firm Universal Digital revealed plans to convert its altcoin holdings into Bitcoin, aligning with the growing trend of institutions diversifying their portfolios with digital assets. These developments underscore the increasing convergence of traditional finance and the cryptocurrency ecosystem, signaling a new era of financial innovation and opportunity.