Cardone Capital, a real estate investment company managing over $5 billion in assets, has launched the 10X Miami River Bitcoin Fund. This is a dual-asset fund that includes a multi-family commercial property with 346 units located along the Miami River in Florida, as well as $15 million worth of Bitcoin (BTC).

In an interview with Cointelegraph, Grant Cardone, founder and CEO of Cardone Capital, stated that the Miami River Bitcoin Fund is the company's fourth hybrid investment vehicle, combining BTC and commercial multi-family real estate, and will convert part of the monthly cash flow into BTC.

Cardone told Cointelegraph that the motivation to launch the fund came from a suggestion from his brother. The CEO said:

"So, when I saw this data, I decided to create a fund where we buy real estate, add Bitcoin, and then use the cash flow generated from the real estate to buy more Bitcoin."

The CEO also mentioned to Cointelegraph that Cardone Capital's long-term goal is to accumulate $1 billion in real estate and $200 million in BTC through these hybrid funds, holding them as reserve assets.

The fund uniquely combines income-generating hard assets with Bitcoin as a store of value, which could potentially disrupt the real estate investment trust (REIT) market, which offers investors a basket of income-generating properties along with other traditional commercial real estate investment tools.

The CEO added that he hopes to attract investors and tenants to use Bitcoin, giving them access to this digital asset without needing to have the technical knowledge to understand how Bitcoin works.

Cardone told Cointelegraph that the real estate investment company is considering a rewards program that pays long-term tenants who make timely payments and demonstrate good tenant behavior in Satoshi.

One of the goals of the hybrid real estate BTC fund is to drive Bitcoin adoption and provide an opportunity for investors who have avoided using Bitcoin due to technological entry barriers to access digital assets, the CEO stated.

"We are guiding people into real estate tools they are familiar with and buying Bitcoin (BTC) for them," the CEO added.

Cardone also told Cointelegraph that he is working with other financial companies to create a hybrid Bitcoin mortgage product that allows customers to borrow based on the Bitcoin they hold and their equity in real estate investments.

Related: Cathie Wood: Crypto ETFs won’t “lose luster” due to wallet adoption rates

Original article: “Cardone Capital Launches 10X Miami River Bitcoin (BTC) Fund”

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