PANews reported on May 26 that according to Cointelegraph, real estate investment company Cardone Capital announced the launch of the 10X Miami River Bitcoin Fund, a dual-asset structure that includes 346 multi-family commercial properties along the Miami River in Florida and $15 million worth of Bitcoin. Grant Cardone, the company's founder and CEO, said that this is its fourth mixed Bitcoin and commercial real estate investment tool, and plans to convert part of the monthly cash flow into BTC; the company's long-term goal is to accumulate $1 billion in real estate and $200 million in BTC as reserve assets through mixed funds.
Cardone Capital plans to attract investors and tenants to Bitcoin by lowering the technical threshold, such as considering offering a reward program paid in "satoshis" to tenants who pay on time for a long time. The CEO said that the hybrid fund aims to provide Bitcoin exposure to investors who circumvent technical barriers, and is working with other financial institutions to develop hybrid mortgage products that allow customers to pledge Bitcoin and real estate equity.
