Real estate mogul Grant Cardone is planning to turn his company’s $5 billion property portfolio into digital tokens. By using blockchain technology, Cardone Capital wants to make it easier for investors to own, trade, and use their real estate holdings as collateral in the market.
The company manages many apartment buildings and offices across the U.S. and has already started embracing the crypto world by using its rental income to buy Bitcoin. In fact, they bought 1,000 Bitcoin last June and plan to buy even more.
Cardone isn’t alone in this trend. Many big investment firms are now turning traditional assets like buildings and bonds into digital tokens to make record-keeping and trading faster.
For example, the Trump Organization is doing something similar with a resort in the Maldives, and Starwood Capital is also prepared to start, though they are currently waiting for clearer government rules.
While this technology could make buying and selling real estate much simpler, experts warn that confusing regulations and a lack of active buyers in these new digital markets could still be a problem.
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