Grant Cardone announced that his company plans to buy up to 3,000 additional bitcoins, further strengthening its cryptocurrency portfolio. Currently, Cardone Capital's bitcoin holdings are valued at over 100 million dollars, considering that the current price of Bitcoin is around 102,730 dollars. If the firm successfully executes its purchase plan, its total bitcoin portfolio could exceed 400 million dollars by the end of the year.
Cardone Capital's decision aligns with a general trend in the institutional sector, where large companies are increasingly likely to use Bitcoin. Companies like MicroStrategy, Tesla, and Galaxy Digital are other leading firms that have made significant investments in Bitcoin. One example is MicroStrategy's holding, which owns over 592,000 Bitcoin, worth more than 60 billion. The electric car company Tesla has around 11,500 Bitcoin in its portfolio, and Galaxy Digital may have 12,800 BTC.
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