Bitcoin (CRYPTO: BTC) may have been hammered in the ongoing slump, but is it enough to swap your digital fortune for a beachfront luxury pad? Well, real estate mogul Grant Cardone is making that exact offer.
Cardone Bets On BTC Over Fiat, Real Estate
Earlier this week, Cardone listed his 10,000 sq ft Golden Beach mansion for 700 BTC, worth $46.58 million at current prices. The mansion has 7 bedrooms, 6 garages and a private shoreline.
Cardone invited early Bitcoin holders, also referred to as OGs in cryptocurrency lingo, to make the move.
Cardane said that his neighbour listed their property for $88 million, significantly higher than his listing.
“Let the neighbor take more fiat. I'll still be better off 4 years from now,” the equity fund manager said, betting on BTC’s appreciation over four years for superior returns.
Interestingly, in late August, Cardone listed his Golden Beach property at 605 Ocean Blvd on Propy—an on-chain real estate platform—for 400 BTC, worth $43,36 million at the time. Just three days later, he announced the sale.
However, the listing remains on the platform as of this writing, with an estimated sale price of $42 million, roughly the same as last time. Details on why it’s back on the market aren’t fully clear. Benzinga reached out to Cardone for a comment.
Is The Deal Worth It?
Influential cryptocurrency trader Glauber Contessoto, popularly known as SlumDOGE Millionaire, laughed off Cardone’s offer.
“No one who owns Bitcoin wants to give you 700 BTC for that house; they know it'll be worth much more in the next 5-10 years than that house will,” the Dogecoin (CRYPTO: DOGE) said.
A report by Agents Gather projected a +3-5% appreciation for Miami’s ultra-luxury estates in 2026 and a +4-6% appreciation in 2027.
Given Bitcoin's high volatility, its trajectory has been difficult to predict. It lost 30% of its value last year and has already fallen another 24% in 2026. However, in the last 10 years, it has surged more than 16,000%.
Just Another Way To Buy BTC’s Dip?
Cardone is known for his long-term conviction in Bitcoin. His Florida-based real estate investment firm Cardone Capital bought 200 BTC following one of the cryptocurrency market’s sharpest corrections last year. Last month, the company bought another $10 million in BTC.
A few days ago, Cardone revealed that he was putting his 2024 Bombardier Global 7500 jet up for sale following Bitcoin's crash, hinting that he might use the proceeds to buy the dip.
Price Action: At the time of writing, BTC was exchanging hands at $67,017.99, down 0.61% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: s_bukley on Shutterstock.com
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