Bitcoin’s value has been volatile since President Donald Trump’s election in 2016. The cryptocurrency experienced a surge after his win, reaching six figures, but plummeted after he announced tariffs on Canada, Mexico, and China. Despite this, bitcoin quickly rebounded.
Grant Cardone, private equity fund manager and real estate investor, believes the cryptocurrency will continue its upward trajectory. He predicts bitcoin will reach $250,000 by 2023, with the potential to reach $1 million by 2030. However, Cardone is cautious against buying bitcoin directly due to concerns about losing money.
Instead, he recommends a combination of institutional-quality real estate and bitcoin purchases through his 10X Space Coast Bitcoin Fund. The fund combines stable real estate cash flow with volatile bitcoin investments. By holding onto the real estate project for long periods, investors can potentially increase returns by up to 50% per year.
Cardone’s optimism is rooted in a pro-crypto administration. He believes having an administration that supports digital currencies will create new opportunities and allow them to “try new technologies around money.” However, he emphasizes the importance of meeting his three investment criteria: preserving wealth, generating cash flow, and benefiting from long-term value appreciation.
Cardone’s views on bitcoin are a stark contrast to those who simply buy the cryptocurrency without considering its potential risks. He encourages investors to explore alternative methods, such as real estate investments with bitcoin as a secondary asset.
Source: https://www.nasdaq.com/articles/grant-cardone-predicts-bitcoin-will-reach-1m-2030-still-cautions-against-buying-it