Cardone Capital launches 10X Miami River Bitcoin Fund
Cardone Capital launched the 10X Miami River Bitcoin Fund, a dual-asset fund comprising a 346-unit multifamily property in Miami and $15 million in Bitcoin. The fund is the firm's fourth to blend BTC with commercial real estate, converting part of its cash flows into Bitcoin. The initiative was inspired by a suggestion from Grant Cardone's brother, highlighting potential gains from converting real estate cash flow into Bitcoin over 12 years. Cardone Capital aims to accumulate $1 billion in real estate and $200 million in Bitcoin as treasury assets. The fund's approach could disrupt traditional real estate investment vehicles. Cardone plans to onboard investors and tenants to Bitcoin without requiring technical knowledge, considering a rewards program for tenants paid in Satoshis. Additionally, Cardone is collaborating with financial firms to develop a hybrid Bitcoin mortgage product.
