"I'm Buying Bitcoin Like Crazy" - Grant Cardone

Summary

Podcast Summary: "I'm Buying Bitcoin Like Crazy" with Grant Cardone

The Wolf Of All Streets with Scott Melker
Date: June 20, 2026

---

Overview

In this insightful episode, Scott Melker sits down with investor and entrepreneur Grant Cardone to discuss the disruptive potential at the intersection of real estate and Bitcoin. Cardone shares his strategy of combining cash-generating real estate with Bitcoin holdings, critiques the limitations of the traditional REIT (Real Estate Investment Trust) model, and explains how his hybrid approach is drawing in both institutional and retail investors. The conversation also touches on why Bitcoin remains misunderstood, what Cardone sees as the biggest opportunities in today’s real estate market, and his thoughts on Michael Saylor’s journey from corporate executive to Bitcoin evangelist.

---

Key Discussion Points & Insights

1. REITs Are a Broken Model

• Historical Perspective & Critique
  • REIT legislation, originated in 1965, fundamentally constrains how much capital can be retained, forcing REITs to distribute 90% of income and leaving them ill-prepared for capital expenditures (capex) or market downturns.
  • Cardone asserts this model is outdated and unable to hold assets like Bitcoin, further limiting liquidity and adaptability.
  • Quote:
    “For 30 years, those [REITs] outperformed the market. ... Here we are 60 years later, they're not in startup, they're not growing, they're underperforming the S&P 500 … And because they can't hold currency on their balance sheet, they redistribute all of it. ... They have no money for capex. So, like this, it's a broken model.” — Grant Cardone (04:08)

2. Innovating with the Real Estate-Bitcoin Hybrid Model

• Structure & Appeal

  • Cardone’s model wraps cash-positive real estate and Bitcoin into a single LLC, raising money from investors for a blended return—yield from real estate and potential appreciation from Bitcoin.
  • Over the past year and a half, his firm’s executed six such deals, totaling over $1 billion, with $200 million dedicated to Bitcoin—held unleveraged, while real estate is leveraged long-term.
  • Quote:
    “So we started adding Bitcoin to our model a year and a half ago. ... About $200 million of Bitcoin. ... We think we build a model that disrupts a $4 trillion industry.” — Grant Cardone (05:27–06:03)

• Hybrid Investment Example

  • “For every apartment there was 366, ... we bought three Bitcoin. ... I have a chance to make money on the unit ... and the positive cash flow. ... Plus the opportunity for rent growth, plus the bitcoin.” — Grant Cardone (07:06)
  • Investors additionally benefit from tax advantages: “We provided our investors with $54 million to depreciation plus cash flow, plus the opportunity for rent growth, plus the bitcoin.”

3. Institutional and Novice Interest

• Institutions Pay Attention

  • Cardone highlights conversations with major banks and institutions: “...they said, man, if you pull this off, you're going to disrupt the REIT industry, which is 4 trillion.” (02:42)
  • He believes institutions will eventually adopt this model for its solution to the capex and liquidity problem.

• Gateway to Bitcoin for New Investors

  • Many investors in these hybrids aren’t "Bitcoiners." Exposure often prompts them to purchase Bitcoin independently.
  • Quote:
    “When they saw me combining the [two], they’re like, okay, something’s changing ... I believe other people now become interested because I'm combining these two.” — Grant Cardone (11:49–12:14)
  • Investors use the hybrid as a “vehicle” without fully understanding, or needing to understand, Bitcoin’s intricacies.

4. Why Bitcoin Remains Undervalued (and Misunderstood)

• Cardone stresses that overcomplicated explanations of Bitcoin repel potential newcomers, insisting simplicity is key:
  • “Explaining bitcoin to somebody quickly, it's almost impossible. ... It's where the bitcoin community fails...” (08:55)
  • Illustrates how he only got into Bitcoin because he was given some for a speaking gig, not from hours of research:
    “If you need to study this for 20,000 hours, there's a chance you're not going to get it.” (09:12)

5. The Current Real Estate Market & Where to Find Opportunities

• Residential real estate hasn’t dropped significantly, as 70% of mortgages in America are at 4% or less; 30% of homes are owned outright.
• Biggest moves and distress are at the institutional and commercial level—especially in cities like NYC—due to legal constraints, rising costs, and maturing loans.
  • “There's nothing there because 70% of those homes have a 4% mortgage ... So there's no ticking clock with a tick tock saying, hey, you got to sell it.” — Grant Cardone (16:08)
  • “We're in a buyer's market ... all the activities with the big institutions ... The deal's not with you this time.” (15:44)

6. Comparisons with Michael Saylor’s Bitcoin Evolution

• Both Cardone and Saylor pivoted toward hybrid or debt/investment products—Cardone with his real estate blend, Saylor with bitcoin-backed debt products.
  • “When we started this, kind of like Saylor’s journey ... he didn’t know where he would end up. ... I think this model that I've created in the future, all the institutions will adopt this because it solves a problem.” — Grant Cardone (19:11–19:25)
  • Memorable Moment: Saylor reportedly called Cardone a “pussy” for not being more aggressive, but later acknowledged the smart structure of Cardone’s hybrid deal (21:14–21:53).

7. Enduring Belief in Bitcoin—No Matter the Price

• Cardone asserts he’s buying Bitcoin at $81,000 because he believes it’s still “way underpriced” and expects it to rise to $150,000–$190,000, just as he buys real estate well below its “true” value.
  • “I’d buy it at $81,000 this morning right now ... I think it should be $150,000 today. Maybe 180, 190. And it's just a matter of when it goes there. Same thing for our real estate ... I think it’s worth 400 [million]. It’s just when does it become worth 400?” (15:09–15:41)

8. The “10x Cookie” Interlude

• A running lighthearted theme throughout is Cardone’s and Melker’s enjoyment of cookies, terming a favorite “the 10x cookie,” serving as a humorous metaphor for finding rare value.

---

Notable Quotes & Memorable Moments

• On why people don’t “just buy Bitcoin”:

  • “The biggest problem is...Bitcoin needs to like, hire a good PR agent.” — Interviewer (09:07)

• On the hybrid model as a gateway:

  • “I know it is [a gateway].” — Grant Cardone (11:49)

• On risk, expertise, and why most investors wouldn’t or couldn’t replicate his strategy:

  • “Buying a Bitcoin is not sophisticated. Buying a $235 million asset that’s worth 350, you have to be extremely sophisticated.” — Grant Cardone (10:42)

• On Bitcoin’s complexity and communication failures:

  • “I would get turned off...I have to have seed phrases...this is too complicated for me, dude. I wouldn’t be in bitcoin if somebody wouldn’t have given it to me.” — Grant Cardone (12:44)

• On the resiliency of quality real estate & the illiquidity problem:

  • “Real estate's never liquid. It is the most illiquid asset class in the world. It's also the largest asset class in the world ... When you put bitcoin on that balance sheet, ... the liquidity of that 24/7 to pay for a paint job or roof ... it’s a perfect vehicle and ... going to disrupt.” — Grant Cardone (19:11–20:40)

• Michael Saylor’s early skepticism:

  • “He called you a pussy.” “Yeah, he did.” — Interviewer & Grant (21:14–21:17)

---

Important Timestamps

• 00:10–04:08: Cardone explains the historical REIT law and its broken structure
• 05:26–06:03: Details of the Bitcoin-real estate hybrid, scale of investments
• 07:06–07:54: How a hybrid deal works for investors and the tax benefits
• 08:46–09:07: Why most hybrid investors are not “bitcoiners” and why this matters
• 12:44–14:23: Cardone's early experience with Bitcoin, storage mishaps, and learning curve
• 15:09–15:41: Cardone’s belief in Bitcoin’s “real” value and buying at current prices
• 16:08–17:19: State of the housing market, why residential hasn’t crashed
• 19:11–20:50: Real estate’s liquidity problem and Bitcoin’s role in solving it
• 21:14–21:53: Cardone shares Michael Saylor’s blunt feedback on his hybrid approach

---

Conclusion

This episode offers a nuanced, humorous, and practical look at how pairing institutional-grade real estate assets with Bitcoin can create new, more resilient investment vehicles. Grant Cardone provides both critique and vision, explaining why old models are failing, why Bitcoin is still undervalued (and poorly explained), and how even risk-averse or crypto-ignorant investors can be onboarded through accessible, benefit-rich hybrids.
“If it’s as big as I think it is, I will want to do the two together and not one by itself.” — Grant Cardone (20:40)

---

For anyone interested in the future of real estate, institutional investing, or practical Bitcoin adoption, this episode delivers both prescription and provocation—plus a side of cookies.

Transcript

[Host]

Grant Cardone says he may have found a way to disrupt the $4 trillion real estate industry by combining income producing real estate with bitcoin. In this interview, he explains why traditional REITs are broken.

[Grant Cardone]

In 1965, there was a law written called the REIT real estate investment trust. Part of that law, when they built that structure was the investors would come into the reit but they had to distribute 90% of their currency. They can't keep currency on their balance sheet. They have no money. For capex, it's a broken bottle.

[Host]

How his bitcoin real estate hybrid is attracting investors who've never owned crypto.

[Grant Cardone]

GE he's an investor in our real estate. When I showed the hybrid, the first thing he did was went and bought some bitcoin. Jared Glant. I started doing this. He went and bought bitcoin on the side and his dad bought bitcoin on the side. When they saw me combining the dude, they're like, okay, something's changing and why

[Host]

institutions are starting to pay attention.

[Grant Cardone]

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

[Host]

We also discussed Michael Saylor's evolution from bitcoin buyer to financial engineer. Why Cardone believes bitcoin is still massively undervalued. Where he sees the biggest opportunities in real estate today and the surprising reason he thinks bitcoin's biggest problem is how it's being explained to the world. Let's go,

[Grant Cardone]

Dude.

[Interviewer]

Can I eat these?

[Grant Cardone]

Yeah, sure. Like on the.

[Interviewer]

On camera. I don't.

[Grant Cardone]

I don't see why you can.

[Interviewer]

You eat cookies.

[Grant Cardone]

I do.

[Interviewer]

Does it like violate your.

[Grant Cardone]

Doesn't violate anything.

[Interviewer]

Your longevity or something?

[Grant Cardone]

Not mine. You know, I take care of myself enough to where I can eat the cookies.

[Interviewer]

You need a cookie every once in a while. I love cookies.

[Grant Cardone]

Yeah.

[Interviewer]

Did you dress up for me?

[Grant Cardone]

Yes, thank you. Yes, I did.

[Interviewer]

I put my jacket back on over my T shirt.

[Grant Cardone]

Oh yeah. I want to like.

[Interviewer]

Yeah, it's been on and off. Yesterday I was fully like.

[Grant Cardone]

I never regret wearing, wearing. You know, I was in New York yesterday. We were talking to one of the big institutions about the hybrid and so I thought I'd go dress like this. And then we did a speaking gig over there. Yeah. I never regret being in a shirt and top.

[Interviewer]

You don't?

[Grant Cardone]

No.

[Interviewer]

Most people are the opposite.

[Grant Cardone]

Later, later. I never regret it when I see the photos.

[Interviewer]

Oh yeah, you always look good.

[Grant Cardone]

They always look better than the T shirt.

[Interviewer]

The Wives love it.

[Grant Cardone]

Yeah, yeah.

[Interviewer]

Which is nice. Yeah. My wife is like, dress, you're going on stage, dress up.

[Grant Cardone]

Yeah, exactly.

[Interviewer]

Scrub.

[Grant Cardone]

You'll never regret it.

[Interviewer]

So what were you pitching them yesterday?

[Grant Cardone]

We were talking about the real estate bitcoin hybrid. So we showed it to one of the big, the big banks.

[Interviewer]

Do they get it?

[Grant Cardone]

Oh, yeah.

[Interviewer]

So they do get it.

[Grant Cardone]

Well, they got it to the point to where they said, man, if you pull this off, you're going to, you're going to disrupt the read industry, which is 4 trillion. Yeah.

[Interviewer]

Casual. 4 trillion.

[Grant Cardone]

Yeah. So if I got 10% of that, if I got 5% of his $200 billion big number. And look, that industry hasn't changed in 60, what is it, 66 years? There's been zero change. 1965, there was a law written called the REIT Real Estate Investment Trust. And it basically created a tax structure so, so that companies like a Starwood or a Blackstone that would come along later back then, it was, I think it was something residential. Sam Zell created it.

[Interviewer]

Yeah.

[Grant Cardone]

And what was your. Hey, Brian. What was Sam Zell's company? What was Sam Zell's company? Residential.

[Interviewer]

What? Sam Zell's company. Residential. Eqr, eqr. Eqr.

[Grant Cardone]

Yeah. Equity residential. And so they, they created that structure. Right. So the part of that law, when they built that structure was the investors would come into the REIT, but they had to distribute 90% of their, their currency. Again, this is 1965. They had to distribute. They can't keep currency on their balance sheet. Well, if they can't keep cash on their balance sheet, keeping bitcoin's impossible.

[Interviewer]

Right.

[Grant Cardone]

And for 30 years, those outperformed the market. They did phenomenal. They were, you know, these companies were growing, they were in startup phases. Here we are 60 years later, they're not in startup, they're not growing, they're underperforming. The S&P 500, a lot of these are very capex heavy companies that require more investments in their office, their hotels, their apartments. And because they can't hold currency on their balance sheet, they redistribute all of it. They, they, they have no money for capex. So, like this broken model. It's a broken model. Starwood this week came out, they're 140 billion. They're one of the largest. They came out gated all their redemptions.

[Interviewer]

Oh yeah, I didn't see that.

[Grant Cardone]

Now if they would, if they had this much bitcoin in their balance sheet for the last 12 years, they would not have a capex issue, they would not have a redemption issue. They would always have liquidity. The problem with most real estate is when you go through the sick cycle. We're in the sick cycle now. Sick S I C K. It's going to get sick, but it's not going to die. It's just going to change names. So when it gets sick, you need capital. And because they distributed the REIT model, distributed all the cash, as you know, there's nothing there. They could be dead.

[Interviewer]

Yeah.

[Grant Cardone]

So the real estate won't die, but the ownership will change. So a new guy will come in and take it over. So we started adding bitcoin to our, to, to our model a year and a half ago. We've done six deals, about a billion dollars, a little over a billion dollars. About $200 million of Bitcoin. This paid for in cash. No leverage on the bitcoin. We have long term leverage on the real estate, but the real estate's cash flow positive. You know, basically sync the two together, wrap them in an llc, raise money from our investors and we think we build a model that disrupts a $4 trillion industry.

[Interviewer]

Is there a model where you actually put that bitcoin to work in some way?

[Grant Cardone]

We could, we could. I mean, I'm not, I'm not so. I'm not so. Look, it's easier to buy the bitcoin than it is the real estate.

[Interviewer]

Yeah.

[Grant Cardone]

So right now the way the model works is I need to buy the real estate below replacement costs. I need, first of all, I need great real estate. I don't want to be average real estate. There's not a lot of great real estate. There's a lot of real estate for sale. Not all real estate's created equal. There's maybe this much. That's great. I'd say somewhere between 5 and 6% of all the real estate supply on planet earth is great. The rest of it's just not great. It's not great or it's mediocre or shit. A third of the real estate on planet earth is garbage real estate. You, you wouldn't want to own it if somebody gave it to you. And now the bitcoin, all bitcoin is per state. And so like the deal we did last July, you, I, you and I talked about that deal we bought. For every apartment there was 366, 366 apartments, we bought three Bitcoin. So not only did we get a unit, unit 366. In that unit is three Bitcoin so I have a chance to make money on the unit because I'm gonna raise the rents. As the rents go up, the value of the property goes up. But I also have an opportunity while I'm getting positive cash flow. Kind of like strike, or is it stretch, stretch, stretch. But I get the upside of the bitcoin and the positive cash flow. And I get one other thing that nobody else can offer it, which is the write off, the depreciation, the accelerated depreciation, the bonus appreciation, that purchase. We, we provided our investors with $54 million to depreciation plus cash flow, plus the opportunity for rent growth, plus the bitcoin.

[Interviewer]

Why isn't everybody doing this now that they've seen you do it?

[Grant Cardone]

Yeah, well, I think everybody feels like.

[Interviewer]

I feel like you're ahead, but they're going to try to chase.

[Grant Cardone]

Well, what happened was in, we started January 25th. By October, people were starting to talk about it. Look what Grant's doing. Look what Cardone Capital is doing. We're going to do this. And then bitcoin was going up to 126 and more people got excited about, oh my God, he's on to something. This is going to be unbelievable. We had already done five deals, and then bitcoin tanks, they all fled. Yeah, that's a terrible idea.

[Interviewer]

Good.

[Grant Cardone]

You know, so they're all gone. But I know the model still works. We, we have 1500 people that came into those investments. We have not had one person complain about the bitcoin is more concerned about bitcoin's price than my investors are.

[Interviewer]

You told me last time we talked. I think I asked you, and these aren't bitcoiners.

[Grant Cardone]

No, that's right.

[Interviewer]

They're just doing a deal.

[Grant Cardone]

They're doing a deal, dude.

[Interviewer]

They're, they're not like, what's up with this bitcoin thing?

[Host]

They're.

[Grant Cardone]

They're seeing a vehicle. They understand, you know, this table, they understand me. Explaining bitcoin to somebody quickly, it's almost impossible. It's, it's, it's where the bitcoin community fails by.

[Interviewer]

It's. The biggest problem is we. I always used to joke that bitcoin needs to like, hire good PR agent.

[Grant Cardone]

Yeah, dude, it's like, I need to do 10. I, I was on a space yesterday and the guy said he, he had invested 20,000 hours studying Bitcoin. I'm like, bro, in 20,000 hours, you could have already bought like 12 pieces. Yeah, just go earn some damn money and buy the bitcoin like if you, if you need to study this for 20,000 hours, there's a chance you're not going to get it.

[Interviewer]

So I think that guy's full of shit. Think he spent 20 minutes and talked on spaces a lot.

[Grant Cardone]

But yeah, probably, you probably right.

[Interviewer]

I'm sure I know him, whoever it is. Yeah.

[Grant Cardone]

And I think that reason this works, the reason we've had so many people come in, 80% of our investors own Novicla and the Bitcoiners. Like there's a, you know this guy Tina, Tiny. Tina. Tina.

[Interviewer]

Bitcoin Tina.

[Grant Cardone]

I would never do that. I'm like what's your point? What's your point? You'll never get in shape either. Okay. So if I talk to you about how to get in shape, you're not going to go to the gym every day. So you're not, you're not a buyer for that product. Okay. So like I, I don't, I don't know what it means to you that you wouldn't do that. And he's like well I would buy the bitcoin and have the real estate separate. I said number one, you will never buy the real estate. I buy by yourself. You're not going to walk out your front door. Even if you have a bag of money, you're not going to walk out your front door and buy 101 Meisner and Boca Raton. To buy that kind of real estate, a quarter of a billion dollar purchase, you have to, you can't just have money. You have to be in the game, have the relationships, have the network and you have to be a sophisticated. Like buying a bitcoin is not sophisticated. Buying a $235 million asset that's worth 350. You have to be extremely sophisticated. I could not have done this 40 years ago.

[Interviewer]

How many buyers are there in the market for properties like that? I mean say obviously like that. It can't be that much competition actually. Right.

[Grant Cardone]

It's going to be Stephen Ross. Oh yeah. There's going to be competition but there's

[Interviewer]

not a hundred people.

[Grant Cardone]

No, there's not a hundred. But the guys that Michael Dell, he owns the country club, he owns the golf course in front of. We know who the related right here in town, Steven Ross. Okay. It's going to be MetLife New York Life. It's going to be long money, 30 year money that are some wealthy family that's going to put it in their portfolio and forget it, you know and wait for the rents to grow over time.

[Interviewer]

Do you Think that the people. I know that they're not bitcoiners, obviously, who are investing in these, but do you think that they feel like they hold bitcoin now by participating in your fund? You think they just hold.

[Grant Cardone]

No, they do. They. And they do on bitcoin, right?

[Interviewer]

Do you think they. But do you think they're like, it gets the. Do you think it could be a gateway for them to go buy more on the. On their own?

[Grant Cardone]

Yeah, I know it is. I. Gerald Boyne. Gerald owned. He's an investor in our real estate. He's bought the real estate with the bitcoin without the bitcoin. When I showed the hybrid, the first thing he did was went and bought some bitcoin. Jared Glant. Jer. Jared's work with me for 14 years. I started doing this. He bought. He went and bought bitcoin on the side, and his dad bought bitcoin on the side. When they saw me combining the. Dude, they're like, okay, something's changing. This is a real estate guy. I'm a real estate guy. I'm a bricks and mortar, glass, steel, and I'm adding the two. And. And I believe other people now become interested because I'm combining these two.

[Interviewer]

Said something really interesting before. You guys said, it takes no, like, brain to buy bitcoin, right? You just buy some bitcoin. But that's so easy. Like, why don't people get that? You know, Like, I think it goes

[Grant Cardone]

back to the way we explain it, the way the bitcoin community explains it. I know. You know, I've been looking at the asset for 13 years, and. And. And I would get turned off. I'd go into rooms, and I start hearing stories about I have to have seed phrases and remember this and have this other. And I'm like, this is too complicated for me, dude. I. I wouldn't be in bitcoin if somebody wouldn't have given it to me. Like, I was given 115 pieces for a speaking gig. I took it because he had nothing else to give me. You know, like, he literally had nothing else to give me. And I wanted to do the gig with him, so I did it. And I said, okay, I'll take the bitcoin, whatever that is. And then. And then he showed me where to store it. And I did. I did. I put it in cold storage. Lost the Trevor's. Trevor's or treasures, Treasure. Lost them. Actually, didn't lose them. My CEO had two of them. The backup and I had two on a plane. And I sold the plane and forgot I had the treasures or whatever they're called on the plane. Looked. Tore my house apart six times, tore my office apart, tore my cars apart. I'm like, I can't find him anywhere. We sold the plane to Tim Draper.

[Interviewer]

Okay, well, Tim is definitely taking that picture. He sees those things, but that's why he bought the plane.

[Grant Cardone]

Well, my pilots, they. Before, when they sold the plane to Tim, and Tim and I didn't really know each other when. When that transaction went down, they took the treasures off and they left them at the hangar and put them on the new plane. And I didn't know.

[Interviewer]

So you got them?

[Grant Cardone]

I got him. But we had already unwinded this cold store.

[Interviewer]

Tim is the ultimate Bitcoin.

[Grant Cardone]

$12 million of Bitcoin that I thought we were going to lose.

[Interviewer]

He bought all the government's bitcoin. I mean, that guy.

[Grant Cardone]

Now, I don't know if he's still buying. That's what I'd like to know.

[Interviewer]

He's still talking about much higher prices.

[Grant Cardone]

Well, of course. I mean, God Damn, he owns 30,000 pieces. He wants to talk about a higher price. Yeah, but the question is, did he buy some at 64? And that's what I would want to know.

[Interviewer]

Yeah. Is there a price that I. Does it go high enough that you don't care about buying anymore? For me, it's just like, I buy it because I don't know what the hell else to buy. What are you going to buy right now if you're just an average person?

[Grant Cardone]

I'm going to buy. Keep buying.

[Interviewer]

Nvidia.

[Grant Cardone]

I'm a real estate.

[Interviewer]

Yeah, you.

[Grant Cardone]

Yeah, that's my. You know, that's my game. But, dude, I'd buy right here.

[Interviewer]

That's what I'm saying. I'm buying like crazy.

[Grant Cardone]

Yeah, I think it's worth, you know, I. I'd buy it at 81,000 this morning right now because. Because I do believe it's a two. I. I believe it's underpriced right now. I think it should be $150,000 today. Maybe 180, 190. And it's just a matter of when it goes there. Same thing for our real estate. Okay. The real estate I bought, I didn't buy it for 235 million because I thought it was worth 235. I bought it because I think it's worth 400. It's just. When does it become worth 400?

[Interviewer]

Where's the real estate market right now?

[Grant Cardone]

Well, it's in the dump. For most people, man, this is a buyer's market. We're in a buyer's market. Like, if you're in New York City, it's rape and pillage.

[Interviewer]

I mean, if prices come down enough

[Grant Cardone]

that, well, you, you have a seller, all the activities with the big institutions, it's not going to your house and trying to buy your house that the deal's not with you this time.

[Interviewer]

Residential, I don't feel like has come down that yet.

[Grant Cardone]

There's nothing there because 70% of those homes have a 4% mortgage on 70% of all the mortgages in America have a 4% or zero mortgage. I think 30% of all the homes in America are paid for in cash. Yeah. So there's no ticking tock, no clock with a tick tock saying, hey, you got to sell it. You need a maturation date on the loan to snuff the guy out. So I was in New York City yesterday. I asked one of the big institutions, two letters, colors in their name. I said, dude, how's the New York real estate market? He's like, and they own ten thousands of units. Big institution. How is it here? Well, if we can't raise the rents, if by law we can't raise rents, but our property taxes go up, our electric bill goes up, our utilities go up, we lose every lawsuit and we can't evict the tenant if everything. The expense line is going up and our income can't go up. What do you think?

[Interviewer]

It's crazy.

[Grant Cardone]

And the loans coming due, so you

[Interviewer]

see a lot of opportunity. So you're going to continue to expand these offerings. Bitcoin real estate, blended. Will you do. Are you going to do pure real estate deals anymore? Is it always going to be bitcoin blended?

[Grant Cardone]

Well, Ryan wants me to do pure real estate deals because he thinks.

[Interviewer]

Stay out of it, Ryan.

[Grant Cardone]

Yeah, he thinks, you know, we have an investors that just want the pure real estate.

[Interviewer]

But.

[Grant Cardone]

But I'm pretty much committed to making sure every single deal we have has a little bit.

[Interviewer]

Let me tell you how this is going to go for you. Eventually you're not going to be talking about real estate at all because you're going to realize that you could just buy bitcoin and do jack shit, go, go work out and play some golf

[Grant Cardone]

and yeah, go to the range and eat cookies.

[Interviewer]

So what's up with the cookies, man?

[Grant Cardone]

But, dude, look, anywhere I go, I look for great cookies. Okay? Very seldom, very seldom. Your wife's beautiful.

[Interviewer]

Yeah, we got to, the four of

[Grant Cardone]

us Got to go have dinner sometime.

[Interviewer]

All right.

[Grant Cardone]

And look, very seldom do you find a great cookie. Okay, now you.

[Interviewer]

I don't know if I'm being pitched or if, like, we just found. I'm going to eat this, dude.

[Grant Cardone]

This is the 10x cookie right here. Okay? 10x consensus. Come see this guy. Okay. These cookies are beautiful. They're heavy. They're weighted. They got the right, like, look.

[Interviewer]

Are they blended with bitcoin? Like, are you selling?

[Grant Cardone]

I don't think there's a bitcoin blend in here, but there should be. If there's not, let's just see.

[Interviewer]

Is this your product?

[Grant Cardone]

No, but I pitch it like it's mine, right?

[Interviewer]

I want the chocolate chip. Sorry, I don't mean to eat out of your hands, but.

[Grant Cardone]

All right, man. You're my friend.

[Interviewer]

Oh, good.

[Grant Cardone]

Oh, man, it's got touch. I'm gonna get more of these, but they call this the triple chocolate cookie. They should have called it the 10x,

[Interviewer]

but that's really good, right? I know.

[Grant Cardone]

Cookies, dude.

[Interviewer]

But don't you eventually just buy bitcoin and do nothing?

[Grant Cardone]

No.

[Interviewer]

Well, because you're not the type of person to do nothing. That's the problem.

[Grant Cardone]

No, I'm definitely not the type person do nothing. But what I'm going to do the play. We didn't know this when we started. You know, you don't always know when you learn how to ride a bicycle. You didn't know one day you be popping Willys.

[Interviewer]

Right?

[Grant Cardone]

So when we started this kind of like sailor's journey, you know, he didn't know where he would end up. And he probably hasn't ended up in the final place. But what we're going to. I think this. This model that I've created in the future, all the institutions will adopt this because it solves a problem. And the problem in real estate is capex. It's Capex is coming. You're going to have to put a new roof. You're going to have to put new gutters. You got to put new carpets. You got to. You got to paint the place. You're going to have to fix the pool. All those things happen, whether it's the Vatican or the 16th Chapel or whether it's 101Meister. Like, time goes on, it deteriorates your property. If you don't have money and you don't have liquidity, and real estate's never liquid. It is the most illiquid asset class in the world. It's also the largest asset class in the world. And you could combine every other asset class and real estate would still be bigger. When you put bitcoin on that balance sheet, as you know, the liquidity of that 24,7 to pay for a paint job or roof or gutters or to pay off your loan when interest rates have gone up, it's just, I think it's a perfect vehicle and I think it's going to disrupt. If it's as big as I think it is, I will want to do the two together and not one by itself.

[Interviewer]

I mean, Taylor seems like he's figured it out with STRC action. He went through all the, like, evolution to get to the product he wants to sell forever.

[Grant Cardone]

He's in the debt business now. He's no longer in the bitcoin business.

[Interviewer]

It's wild. I talked to him this morning. It's wild.

[Grant Cardone]

Yeah. And he really, when he starts talking about Treasuries, he's talking about a 300 trillion dollar industry.

[Interviewer]

Yeah.

[Grant Cardone]

Not, not, not a Bitcoin. A two trip, a 2 trillion dollar Bitcoin thing.

[Interviewer]

I think it's still my favorite story is that he called you a pussy.

[Grant Cardone]

Yeah, he did. The first, the first deal we ever did was in Melbourne. It was called 10x Melbourne Bitcoin Hybrid. And he says, well, what's, what's the, you know, what's the mix? I said, It's $72 million of real estate paid for in cash, cash flow, positive 5% cash flow, about 3 1/2 million dollars of cash flow a year and 15 million in Bitcoin. He's like, that's a fun. So what's wrong with

[Interviewer]

that?

[Grant Cardone]

Nothing left to talk about. I said, God damn it.

[Interviewer]

The cookies are great.

[Grant Cardone]

Thank you, man.

[Interviewer]

If these aren't your cookies. This one's way better than this one though.

[Host]

This podcast is sponsored by Weeks and was recorded live at consensus2026. You can find out more about what they have to offer by clicking on the link down below in the description. Thanks to Weeks for sponsoring.