- On Thursday, Grant Cardone shared a post on X, saying that “I’m selling all my botcoin,” most likely mentioning his Bitcoin holdings.
- While he did not clearly mention the name of BTC, the tweet has sparked discussion in the community about his strategy, as just a day ago, Cardone Capital acquired 130 BTC.
- Amid the turmoil in the crypto market, Bitcoin has plunged below $74,000 after recording a streak of outflows in spot Bitcoin ETFs.
While the entire crypto sector falls into a state of fear following bearish sentiment, Grant Cardone, the founder and CEO of Cardone Capital, shared a sarcastic post on his X handle, saying that he is planning to sell all his “botcoin.”
Amid the downward trend in the crypto market, where Bitcoin (BTC) has dipped below $74,000, the post from Grant Cardone has sparked a discussion on the internet, and even some people have started trolling him for this statement.
Grant Cardone’s Statement Comes a Day After Cardone Capital Acquired 130 Bitcoin
On May 27, Cardone Capital acquired 130 Bitcoins after the overall crypto market witnessed a dip.
The company started accumulating Bitcoin in late 2024 with its first purchase of $4 million. However, they boosted their position in 2025 when the company accumulated 1,000 BTC and added it to its treasury. They are constantly buying the dip in the market.
Earlier this month, Grant also expressed his confidence in his hybrid strategy to combine BTC investment with real estate investments. He also revealed that he has poured another $100 million into Bitcoin to expand its treasury. Earlier, he said, “We just simply added another $100 million of bitcoin. We believe by combining real estate and bitcoin, I’ll end up with somewhere between a 22% and a 32% return.”
As of now, Cardone Capital is currently at around $200 million worth of position in Bitcoin. However, the strategy of this company is very different from digital asset treasuries (DATs), like Strategy. Grant Cardone has not directly purchased Bitcoin (BTC) from the exchanges like most people do. Instead, he has issued a package of $100 million of that Bitcoin directly into a $235 million real estate purchase in Boca Raton, Florida.
Traditional Real Estate Investment Trusts (REITs) are not allowed to hold cryptocurrency on their balance sheets under the current regulatory frameworks. This is why, in order to hold BTC, Cardone has created a single private LLC structure. This entity is now holding the physical properties and the digital assets in one place.
He said, “I’m not putting real estate on the blockchain. All I’m doing is buying a bunch of bitcoin and stuffing it into the discount gap.”
Bitcoin Falls Below $74,000 After Major Outflows in ETFs
Amid the growing geopolitical tension after fresh missile exchanges between the U.S. and Iran, the crypto market has once again witnessed a sharp downfall after investors started pulling out their investments over the fear of growing volatility in the crypto market.
At the time of writing this, Bitcoin (BTC) price is trading at around $73,406 with a drop of 1.2% in the last 24 hours, according to CoinMarketCap. Its market capitalization has also plunged below $1.5 trillion, with a 22% spike in the daily trading volume.
Amid the chaos in the Middle East and the global energy crisis, institutional investors are also pulling out their money from spot Bitcoin ETFs (exchange-traded funds), which was also seen in the latest streak of outflows.
(Source: Coinglass)
On May 27, the cumulative Bitcoin ETFs recorded more than $733 million in net outflows. This was the largest outflow recorded in the last 7-day streak.
Adding to this downfall, the crypto sector is also hit by another major crisis, where DeFi platforms like Kelp DAO are getting hit by a series of bizarre cyber attacks.
Credit: Source link
