Real estate investment firm Cardone Capital announced the acquisition of 1,000 Bitcoin, currently valued at over $100M USD, and plans to purchase an additional $300M worth of Bitcoin.
The move signifies a substantial entry of cryptocurrency into the traditional real estate investment space, outlining a hybrid strategy combining tangible assets with digital ones. Cardone Capital simultaneously announced an objective to acquire 5,000 additional rental units by year-end.
MicroStrategy Executive Chairman Michael Saylor publicly endorsed Cardone Capital’s strategy, emphasizing its role in furthering institutional Bitcoin adoption. The firm targets hybrid investors seeking the stability of real estate alongside Bitcoin’s potential for growth.
This significant investment milestone underscores growing institutional acceptance of Bitcoin, potentially influencing traditional real estate investment firms to consider integrating cryptocurrency assets into their own portfolios.