Grant Cardone, a Real estate mogul, has announced that his firm, Cardone Capital, has officially made its first Bitcoin purchase as part of its broader digital asset strategy.
The company has added 1,000 BTC, worth approximately $101 million based on current prices, to its balance sheet. Sharing the news on X, Cardone described this as the creation of the “first-ever real estate and Bitcoin company with a fully integrated BTC strategy.”
Cardone Capital Expands Into Bitcoin With $101M Investment
Cardone highlighted that the firm is bringing together “two of the best-performing asset classes”, real estate and BTC, and revealed plans to purchase an additional 3,000 BTC by the end of the year.
With this acquisition, Cardone Capital now holds more BTC than some major mining firms, including Core Scientific and Cipher Mining, according to data from BiTBO.
Founded in 2017, Cardone Capital is a private equity real estate firm that raises investor capital to purchase multifamily residential properties. The company currently oversees over 14,000 rental units and manages around $5.1 billion in assets.
In May, Cardone Capital also introduced the 10X Miami River Bitcoin Fund, an innovative investment vehicle that blends real estate and BTC.
The fund features a 346-unit apartment complex along Miami’s riverfront alongside a $15 million Bitcoin investment. Cardone said his brother inspired the idea to use real estate income to keep buying BTC over time.
Metaplanet and Saylor Continue BTC Buying Spree
But, Cardone Capital isn’t the only company buying BTC this week. Japanese firm Metaplanet also added to its BTC stash, buying 1,111 more BTC on Monday.
They bought the Bitcoin at an average price of $105,700 each, bringing their total to 11,111 BTC, now worth about $1.12 billion.
Meanwhile, Strategy founder Michael Saylor is teasing another BTC purchase. Over the weekend, he shared the company’s Bitcoin portfolio, something he often does before announcing more buys on Monday.
According to Saylor, “Nothing Stops This Orange,” he wrote, with a chart showing the company’s Bitcoin stash now worth nearly $61 billion.
