Real estate investment firm Cardone Capital has added approximately 1,000 Bitcoins to its balance sheet, as part of its investment diversification strategy. The company’s CEO Grant Cardone, said the firm will adopt a full-scale Bitcoin-backed real estate treasury. By doing this, the real estate firm will become the first to integrate real estate with Bitcoin through a comprehensive BTC strategy.
The traded BTC was worth approximately $101 million based on current market value. The value of its holdings places the company above mining companies, such as Core Scientific and Cipher Mining. Cardone Capital is also expected to add another 3,000 Bitcoin before 2025 ends, but a definite timeline hasn’t been disclosed. At current price, this would bring the firm’s BTC holdings to more than $400 million.
Cardone Capital Strengthens its Foothold in Cryptocurrency
The real estate firm first made its foray into cryptocurrency in May after incorporating digital assets into its real estate portfolio. Cardone Capital unveiled the 10x Miami River Bitcoin Fund, an investment vehicle that combines real estate and Bitcoin. It includes a 364-unit complex located in the Miami River. A portion of the rental income from each apartment is converted into BTC, creating a solid mechanism to accumulate the digital asset in the long run.
However, Grant took interest in Blockchain technology a year earlier, when he listed his $42 million Golden Beach property on Propy. The blockchain-based platform uses a decentralized title registry and escrow to enable secure, seamless, and immutable transactions between buyers and sellers. According to Grant at that time, “We are all in on Blockchain revolutionizing real estate.”
Cardone Capital Joins Parataxis Holdings, Others in Adopting Bitcoin-Backed Strategy
Cardone Capital isn’t the only company that has made headlines regarding the acquisition of Bitcoin in the past week. Parataxis Holdings, a New York-based asset manager, revealed it will purchase Bridge Biotherapeutics for about $18 million. The icing on the cake is that the deal will list the South Korean company on KOSDAQ as Parataxis Korea, a publicly-traded Bitcoin firm.
Canadian digital assets firm Universal Digital also unveiled plans to swap its altcoin holdings to Bitcoin and work towards the adoption of Bitcoin reserves. On June 16, the firm said it would cooperate with other firms in Asia to expand its BTC Treasury in the hope of aligning with global trends. The company aims to take advantage of the growing interest in cryptocurrency in the region and its openness to innovation.
So far, only the Japanese firm GFA has partnered with Universal Digital. The company entered into a non-binding agreement to introduce BTC reserves to Japanese companies and also develop tools to make Bitcoin Treasury gain more traction among public companies.
More Companies Adopt Bitcoin-Backed Strategy
Bitcoin reserves are becoming attractive for both traditional and crypto companies. The momentum isn’t stopping due to the importance of having a Bitcoin-backed strategy. With federal debt increasing and inflation biting hard, Bitcoin serves as an alternative hedge against currency weakness and inflation.
Besides, the asset is uncorrelated to fiat, which makes it a better long-term investment. The increasing demand for BTC reserves aligns with President Donald Trump’s broader initiative to make the United States the crypto capital of the world.
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