Grant Cardone has put $100 million in Bitcoin into a real estate investment deal, aiming for a 32% return. The allocation, confirmed this week, marks one of the largest direct uses of cryptocurrency in a property transaction by a prominent investor. Cardone, known for his "10x" brand and real estate seminars, didn't disclose the specific asset or partner in the deal.
The 32% target
The deal's target return of 32% stands well above typical real estate yields. Most commercial property investments aim for single-digit to low-teen returns, depending on leverage and risk. Cardone's bet suggests either a high-leverage structure, a distressed asset play, or a short-term flipping strategy. The use of Bitcoin as the investment currency adds another variable—if BTC appreciates during the hold, the effective return could climb. If it drops, the dollar-equivalent return shrinks.
Neither Cardone nor his representatives have commented on how the Bitcoin will be held or whether it was converted to fiat before closing. The deal's timeline also remains unclear.
Crypto in real estate
Using cryptocurrency directly in real estate deals is still rare. Most property transactions rely on traditional financing, with crypto used only at the margins—typically by sellers who accept Bitcoin and immediately convert. Cardone's $100 million allocation suggests a willingness to hold the asset through the investment period, exposing the return to crypto volatility.
Regulatory questions also hang over the move. The SEC and IRS have not issued clear guidance on crypto-funded real estate syndications. Depending on how the deal is structured, it could trigger tax events at the time of the Bitcoin transfer, or be treated as a like-kind exchange. Cardone's team has not detailed the legal framework.
The move comes as more high-net-worth individuals test crypto in illiquid assets. Whether the 32% target materializes—and whether Bitcoin holds its value through the hold period—will be closely watched by both real estate and crypto investors.
