Cardone Capital, a real estate investment company with a management of over $ 5 billion, has introduced a 10x Miami River Bitcoin Fund fund, a double fund consisting of a 346-unit commercial property with many units located on the Miami River in Miami in Florida and 15 million Bitcoin (BTC).
In an interview with Cointelegraph, the founder and general director of Cardone Capital Grant Cardone said that Miami River Bitcoin Fund, which is the fourth mixed BTC mixed investment vehicle and multi -family real estate, will convert some monthly cash flows to BTC.
Cardone told Cointelegraph Impuls to start the fund after his brother’s suggestion. CEO said:
“My brother said to me: You should look at whether you would transform all cash flows from the property to Bitcoin and what he would do in the last 12 years. Well, it would take $ 160 million and it would change around $ 3 billion.”
“So when I saw this, I said that I intend to create a fund in which we buy real estate, add bitcoins, and then use cash flow from the purchase of real estate to buy more bitcoins,” continued the director.
The general director also told Cointelegraph that the long -term goal of Cardone Capital is to collect $ 1 billion and $ 200 million in BTC, which will take place as a tax resource, in hybrid funds.
The unique approach of funds regarding mixing of strenuous assets producing income and bitcoins as a magazine of values may be disturbed by the investment fund market (REIT), market funds, providing investors with access to real estate baskets for income and other conventional investment vehicles of commercial real estate.
Related: US Estate Asset Manager introduces a tokenized fund in the amount of $ 100 million with an institutional foundation
Using users for Bitcoin, separating the technical barrier in the entrance
The CEO added that he wants both investors and tenants to Bitcoin and put them on digital resources, without having to gain technical knowledge to understand how Bitcoin works.
The prize program, paid for in Satoshis, long -term tenants who pay on time and show good behavior of the tenant, is one of the ideas that the real estate investment company replaces Cardone, said Cointelegraph.
One of the goals of hybrid BTC BTC funds is to raise the acceptance of Bitcoins and provide investors who would otherwise avoid Bitcoins due to the technical overcoming of the entrance barrier, with exposure to digital assets, said the CEO.
“We implement people in a real estate vehicle that they understand and buy bitcoins for them,” added the general director.
Cardone also told Cointelegraph that he cooperates with other financial companies to create a hybrid Bitcoin mortgage product, which gives customers the opportunity to borrow in relation to the combined bitcoins shares and equity in real estate investment.
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