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Grant Cardone Is Now a Bitcoin Fanboy — Here’s Why

Marc Guberti

4 min read

Grant Cardone has long valued real estate as his primary asset class. He doesn’t buy gold or stocks, and he was initially skeptical of Bitcoin. However, he has turned into a Bitcoin bull and is accumulating the asset.

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In an interview posted to his YouTube channel, Cardone explained what prompted him to change his stance and shared how Bitcoin and real estate have great synergy.

Also see why Cardone says you can’t build wealth working 9-to-5.

Bitcoin has built-in scarcity, similar to real estate, per Cardone. He explained that both real estate and crypto people value scarcity.

There are only 21 million Bitcoin, and only about 1 million haven’t been mined yet. Once all of the Bitcoin is mined, there is no way to produce additional Bitcoin. A central authority doesn’t have the ability to print more Bitcoin and significantly devalue the asset over time. Meanwhile, fiat currencies have that problem, which is why Cardone referred to saving and storing cash as “a loser’s bet.”

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Real estate also has scarcity. For example, while the quantity of real estate housing can increase due to construction, builders can work only with the land that is still available. The similarities between real estate and Bitcoin have contributed to Cardone feeling more bullish about Bitcoin. He said Bitcoin and real estate have a “natural symbiotic relationship.”

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Cardone has stated that he will never sell any of his Bitcoin, and he may not be the only one. In fact, Bitcoin’s appreciation will further increase the likelihood that investors hold on to their crypto.

This assertion isn’t only because of Bitcoin’s intrinsic scarcity, long-term potential and store of value. It also has to do with capital gains. If an investor has $100,000 in capital gains in Bitcoin and was looking to buy property, Cardone said they wouldn’t cash it out and instead would borrow fiat currency against their crypto. “You’re not going to trade your Bitcoin. Why would you?” he said.

If people hold on to their Bitcoin, its value will go up. Investors should also keep in mind that some Bitcoin will never enter the market again, as some people have lost access to their crypto positions. While the industry has become more advanced and offers more ways to mitigate this risk, it still decreases the total number of available Bitcoin.