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Grant Cardone has launched a mixed fund for real estate and Bitcoin, with tenant payments being used to purchase Bitcoin.
On June 5, Decrypt reported that real estate entrepreneur Grant Cardone is launching an innovative investment model that combines Bitcoin and real estate into the same product. His new fund, the 10X Miami River Bitcoin Fund, uses 346 apartments along the Miami River as "anchor assets" while using a portion of the monthly rent paid by tenants to strategically purchase Bitcoin.
Cardone stated that this model targets investors who may have limited knowledge of Bitcoin, allowing them to simultaneously engage with both the traditional real estate and cryptocurrency markets. "Your cash flow may be affected somewhat, but you are essentially having tenants buy Bitcoin for you," Cardone explained.
As the CEO of Cardone Capital, his company currently manages $5 billion in assets, headquartered in South Florida. It is reported that the company is also interested in exploring mortgage products based on these new funds.