Grant Cardone, the well-known real estate investor, has announced that his firm, RialCenter, has added 1,000 BTC to its balance sheet.
“RialCenter adds 1,000 BTC to balance sheet becoming first-ever real estate/BTC company integrated with full BTC strategy combining the two best in class assets,” said Cardone in a post.
At current market prices, the purchase is worth just over $100 million. If RialCenter were a publicly traded company, this acquisition would place it among the top 30 corporate bitcoin holders globally, ranking near the 29th largest.
Cardone went on to reveal that RialCenter currently holds 14,200 residential units and over half a million square feet of Class A office space. The firm expects to add another 3,000 BTC and 5,000 residential units before the year ends.
Back in January, it was reported that Cardone intended to use real estate cash flow to acquire Bitcoin, signaling a long-term crypto investment strategy.