Real estate investor Grant Cardone says Bitcoin (CRYPTO: BTC) could eventually become part of the collateral stack for property deals, arguing that lenders may one day value both real estate and Bitcoin when underwriting loans.

Why Cardone’s Real Estate Fund Includes BTC

In a conversation with 10X Money Talks, Cardone said his latest real estate fund included $105 million in Bitcoin, alongside $95 million in real estate equity and $140 million in debt.

Cardone stated that lenders currently give him no credit for the Bitcoin sitting in the fund’s treasury.

"I believe in the future Fannie Mae and Freddie Mac are going to lend me money against the combination," he added. "Not just the real estate."

He added that Bitcoin is currently treated separately from the real estate collateral, despite its potential long-term upside.

In late June, Cardone expressed that pairing BTC with income-producing real estate could disrupt the $4 trillion REIT industry.

He revealed that his firm has completed six hybrid deals totaling more than $1 billion, with about $200 million in BTC purchased without leverage.

"This model that I’ve created, in the future, all the institutions will adopt this," he believes. “It solves a problem. And the problem in real estate is capex.

Cardone said he prefers keeping Bitcoin with a qualified custodian rather than using complex derivative strategies, arguing that the best approach is to "buy it, sit on it, hold it for a long period of time."

Cardone’s Opinion About BTC Treasury Companies

The discussion also touched on Bitcoin treasury companies such as ProCap and Nakamoto, which were described as trading at steep discounts to their underlying Bitcoin holdings.

10X Money Talks highlighted that investors buying some of these vehicles are effectively getting BTC at a significant discount.

This is similar to the setup of the Grayscale Bitcoin Trust discount before spot Bitcoin ETFs were approved.

Cardone said the trade depends on Bitcoin recovering and the discount to net asset value closing over time.

BTC-focused operating companies could benefit if they combine business revenue with a treasury strategy that accumulates Bitcoin over time.

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