Important takeaways
- Cardone Capital bought 185 Bitcoin for $15.3 million.
- The purchase is part of the company’s broader effort to diversify its investments beyond real estate.
Cardone Capital, a real estate investment firm, acquired 185 Bitcoin for $15.3 million today. The purchase represents the company’s continued expansion into crypto assets as part of its treasury and investment strategy.
The company has been actively acquiring Bitcoin to support hybrid projects that mix real estate with digital assets. Cardone Capital focuses on multi-family real estate and began incorporating Bitcoin into its portfolio to diversify beyond traditional real estate investments.
The acquisition comes as the crypto market is experiencing a major decline that pushed Bitcoin to $80,000 earlier today before a partial recovery to $84,000 at press time.