PANews reported on May 26, according to Cointelegraph, that real estate investment company Cardone Capital has launched the 10X Miami River Bitcoin fund, which has a dual-asset structure that includes 346 multi-family commercial properties located along the Miami River in Florida and $15 million worth of Bitcoin. The company's founder and CEO, Grant Cardone, stated that this is their fourth hybrid investment tool combining Bitcoin and commercial real estate, with plans to convert part of the monthly cash flow into BTC; the company's long-term goal is to accumulate $1 billion in real estate and $200 million in BTC as reserve assets through the hybrid fund.
Cardone Capital plans to attract investors and tenants to Bitcoin by lowering technological barriers, such as considering a rewards program for tenants who make on-time payments in 'sats'. The CEO stated that the hybrid fund aims to provide Bitcoin exposure for investors who avoid technological barriers and is collaborating with other financial institutions to develop hybrid mortgage products that allow clients to collateralize Bitcoin and real estate equity.
