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Cryptocurrency News Articles
Real Estate Mogul Grant Cardone Pitches Innovative Bitcoin Investment Strategy, Expresses Optimism About Trump Administration's Crypto Stance
Nov 20, 2024 at 01:18 am
Real estate mogul Grant Cardone spoke at Tuesday's Benzinga Future of Digital Assets conference about his bullish outlook on cryptocurrencies
Real estate mogul Grant Cardone shared his bullish outlook on cryptocurrencies, expectations for interest rate cuts, and the incoming Trump administration during Tuesday’s Benzinga Future of Digital Assets conference.
Cardone, who was interviewed by IBC Group CEO Mario Nafwal, expressed keen interest in crypto, drawing parallels between real estate and digital asset investors.
“Real estate and crypto people have a lot in common, they both value scarcity,” he noted, highlighting real estate’s advantage of generating cash flow.
While he’s a proponent of real estate tokenization, Cardone was skeptical about delivering on the technology’s potential.
He instead proposed an innovative investment strategy, suggesting that investors dollar-cost average their real estate-generated cash flow into Bitcoin (CRYPTO: BTC).
This approach could appeal to conservative investors looking to gain exposure to cryptocurrencies without directly engaging in the volatile market.
The entrepreneur positioned himself as a “coward investor,” favoring assets with steady income streams over stocks or cash.
“I put my money in ‘real assets,'” Cardone said, emphasizing his preference for tangible investments that produce regular returns.
Cardone forecasted a significant drop in interest rates, saying, “I believe we see 3% rates in the next 24 months.”
He suggested President-elect Donald Trump could pressure the Federal Reserve to lower rates, a move that could have far-reaching implications for both real estate and crypto markets.
Cardone expressed optimism about the incoming Trump administration’s priorities, predicting the president-elect will “be interested” in reducing taxes and deregulation, lowering illegal immigration, and making “sure you don’t get shadow-banned by the media.”
He was also upbeat about Trump’s influence on the cryptocurrency industry, saying the transition team is “very serious about crypto.”
Sharing a personal anecdote, Cardone revealed he first acquired Bitcoin when it was trading at $500, accepting it as payment for a $50,000 speaking engagement.
He’s since added to his position when Bitcoin traded at $30,000 and plans to hold long-term, viewing it as a generational wealth transfer vehicle.
Cardone expressed no interest in investing in gold or stocks, saying he does not want to “trade one piece of paper for another piece of paper.”
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