Cardone Capital, a real estate investment company with more than $ 5 billion in property under management, launched a 10x Miami River Bitcoin fund, a dual-asset fund consisting of a 346-unit multifamily commercial property located on the Miami River in Miami, Florida, andBtc).
In an interview with Cointelegraph, Cardone Capital Founder and CEO Grant Cardone said the Miami River Bitcoin Fund, which is the four -mixing vehicle of BTC firm mixing and commercial multifamily real estate, will change a portion of the monthly cash flow to BTC.
Cardone told Cointelegraph the Impetus to start the fund to comply with a suggestion from his brother. CEO said:
“My brother told me, you should see if you want to convert all your cash flow from real estate to bitcoin and what it can do in the last 12 years. Well, it will take $ 160 million and it has been around $ 3 billion.”
“So, when I saw that, I said I was going to make a fund where we bought real estate, add bitcoin, and then use cash flow from buying real estate to buy more Bitcoin,” the CEO continued.
The CEO also told Cointelegraph that the long-term goal of Cardone Capital was to accumulate $ 1 billion of real estate and $ 200 million in the BTC, which was held as a treasury-owned owner, throughout the hybrid fund.
The unique approach of the mixture fund The making of hard assets and bitcoin As a store value can interfere with the market for real estate investment trusts (REIT), markets exchanged market that provides access to investors in baskets of income-producing features, and other traditional commercial real estate Investment vehicles.
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Onboarding users in Bitcoin by abstracting the distance technical obstruction to entry
The CEO added that he wanted to attack the investors and tenants in Bitcoin and expose them to digital assets, without having to gain technical knowledge to understand how Bitcoin works.
A reward program, paid to Satoshis, to long-term tenants, which pays time and shows good renter behavior, is an idea that the real estate investment firm is mulling, Cardone told Cointelegraph.
One of the goals of the hybrid real estate fund is the Drive bitcoin adoption And provide investors, who otherwise avoid Bitcoin due to overcome technical barriers to entry, with exposure to digital assets, the CEO said.
“We are riding people in a real estate vehicle that they understand and buy Bitcoin for them,” the CEO added.
Cardone also told Cointelegraph that he was working with other financial companies to create a hybrid product of Mortcoin mortgage that gives clients the ability to borrow against their joint Bitcoin and equity handling held in a real estate investment.
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