Cardone Capital is a real estate investment company managing over $5 billion in assets, which has launched the 10X Miami River Bitcoin Fund. This is a dual-asset fund that includes a 346-unit multifamily commercial property located on the Miami River in Florida, as well as $15 million in Bitcoin (BTC).
In an interview with Cointelegraph, Grant Cardone, founder and CEO of Cardone Capital, stated that this fund is the company's fourth investment tool that combines BTC with commercial multifamily residential properties. The fund will convert part of its monthly cash flow into BTC.
Cardone stated that the motivation to establish the fund came from his brother's suggestion. He said, 'My brother suggested that if I had converted all the real estate cash flow from the past 12 years into Bitcoin, what would have been the effect? That could have turned $160 million into approximately $3 billion.'
After seeing this, I decided to create a fund to purchase real estate, add Bitcoin, and then use the cash flow from the real estate to buy more Bitcoin.
Cardone also stated that the company's long-term goal is to accumulate $1 billion in real estate and $200 million in BTC through these hybrid funds, treating them as financial reserve assets.
This fund uniquely combines income-generating hard assets with Bitcoin as a store of value, potentially having a disruptive impact on Real Estate Investment Trusts (REITs) and corporate trading funds.
By simplifying the technical barrier, more people can access Bitcoin.
The CEO added that he hopes to attract investors and tenants to engage with Bitcoin without requiring them to have technical knowledge of it.
Cardone revealed that the company is considering launching a reward program that pays long-term tenants who pay on time and perform well in satoshis.
One of the goals of the hybrid real estate BTC fund is to promote the adoption of Bitcoin, allowing investors who have avoided Bitcoin due to technical barriers to have the opportunity to access this digital asset.
Cardone also revealed that he is working with other financial companies to develop a hybrid Bitcoin mortgage product that allows customers to borrow against their Bitcoin holdings and equity in real estate investments as collateral.
