Billionaire Grant Cardone’s Property Firm Buys 100 Additional Bitcoin During Decline, Now Holds 1100 BTC
Billionaire investor and entrepreneur Grant Cardone announced that his property investment firm, Cardone Capital, purchased an additional 100 BTC as the market drops.
Cardone himself made the announcement on X and provided the firm’s overall holding in Bitcoin of 1,100 BTC.
At current prices, this is a total valuation of about $115 million. The drastic move demonstrates Cardone’s continued belief in Bitcoin as a final store of value even during current prevailing uncertainty in the cryptocurrency industry.
Bitcoin Price Falls Following Tariff Announcement by Trump
Against the backdrop, Bitcoin crashed by more than five percent and was trading as low as $115,304, under pressure for three weeks straight from that position.
The fall happened in the wake of U.S. President Donald Trump’s announcement of the imposition of new tariffs on several countries, which seems to have angered many in the financial markets.
CoinGecko reports that Bitcoin is now down 6.5% from its July all-time high of $122,838.
Making things worse for the cryptocurrency market, Ether (ETH) dropped by 4% to $3,600, XRP dropped 5% to less than $3, and Solana (SOL) dropped 6% in the last 24 hours.
Cardone Capital’s Aggressive Crypto and Real Estate Expansion
Besides its crypto shift, Cardone Capital remains significantly involved in real estate.
Grant Cardone said that the firm currently manages over 14,200 residential units and over half a million square feet of Class A office space in the United States.
He had previously noted on X that Cardone Capital has aggressive growth plans in 2025, where it will buy another 3,000 BTC and 5,000 residential units by year-end.
The two-prong strategy focuses on Cardone’s belief in combining traditional asset-backed investments with the high-growth potential of digital assets like Bitcoin.
Also Read: Crypto Expert Forecasts XRP Could Hit $4.40, Advises Buying the Dip at $2.25
Purchase of the Dip: A Trend Among Institutionally and Politically Aligned Buyers
Cardone’s strategic acquisition follows a growing trend among institutionally and politically aligned buyers that exploits crypto dips.
On February 4th, World Liberty Financial (WLFI), associated with Donald Trump’s family, purchased 86,000 ETH in a market drop, As of 1st August, WLFI holds, bringing its total Ethereum holdings to $266 million
Similarly, on June 23rd, Japanese firm Metaplanet purchased 1,111 BTC for $118.2 million. As of August 1st, Metaplanet’s Bitcoin total holdings total above $1.9 billion.
These buys, carried out under bearish markets, show a usual practice of the major players: buy low and earn high returns subsequently.
Also Read: Binance Co-Founder Says “Missed the Last Dip? There Will Be More,” Amid Bitcoin Breaking ATH
Institutional Confidence in Bitcoin Remains Unfazed by Market Volatility
After the recent pullback, Bitcoin still maintains strong market fundamentals, with a market cap of around $2.29 trillion and a circulating supply of 20 million BTC.
The movements of Cardone Capital, WLFI, and Metaplanet reflect increasing confidence of institutions in the long-term viability of Bitcoin and other major cryptocurrencies.
Hence, whilst global regulatory purviews suddenly become clearer besides an accelerating pace of blockchain adoption.
Currently, these moves stress the conviction of buying into weakness for long-term strength.
Also Read: Whales Buy 460 Million Dogecoin Amid Price Dip As $DOGE Price Climbs 6%