Grant Cardone's Cardone Capital has significantly increased its bitcoin holdings to approximately 2,700 BTC during the current market downturn, purchasing at an average price of $59,000. According to recent reports from AMBCrypto, the company's bitcoin stake is currently valued at roughly $159 million, representing a substantial increase from the $200 million held as of May. The firm has maintained its strategy of using rental income from real estate assets to fund regular bitcoin purchases, with the company positioning itself as the largest real estate-bitcoin hybrid globally. Cardone Capital's approach contrasts with corporate bitcoin treasury strategies that rely on capital markets, as the firm argues its real-estate-funded purchases avoid institutional influence and capital-markets pressure.
The timing of Cardone's continued bitcoin accumulation is particularly significant as bitcoin has fallen 19.27% over the past thirty days and 31.96% year-to-date, creating what Cardone views as an accumulation opportunity. As reported by AMBCrypto, the asset has struggled to reclaim higher ground, trading around the $60,000 region since the market downturn began. This week's crypto slide has put pressure on corporate bitcoin treasury models, with Strategy's stock trading below the value of the bitcoin it holds and analysts at CryptoQuant arguing the firm has overextended itself. Cardone's pitch emphasizes that rental income, rather than capital markets, funds the purchases, theoretically removing the need to sell shares or take on debt to maintain bitcoin accumulation.
Cardone Capital's continued bitcoin accumulation runs counter to the strategy of Strategy (MSTR), the largest corporate bitcoin holder with 847,363 BTC worth roughly $50 billion, which has restructured its treasury under a new capital framework. According to AMBCrypto, the Digital Credit Capital Framework authorizes Strategy to sell up to $1.25 billion of bitcoin, with proceeds funding preferred dividends, interest payments, and repurchases of preferred securities and common stock. The shift follows Strategy's first-ever bitcoin sale on June 1st, a small disposal worth around $2.5 million that broke Michael Saylor's long-standing pledge never to sell. This selling trend extends beyond Strategy, with U.S. spot Bitcoin ETFs recording $4.06 billion in net outflows in June - the largest monthly redemption since funds launched in January 2024.
Despite the heavy selling pressure and weak sentiment, technical analysis suggests bitcoin may have found a bottom. As reported by AMBCrypto, chart analysis shows the Bollinger Bands on the weekly chart where price has reached the lower band, a level that has repeatedly acted as support and preceded rebounds. The Bollinger Bands track volatility through three lines: the upper band (red), the lower band (green), and the mid band (blue), with the mid band acting as either support or resistance depending on conditions. This technical signal comes as bitcoin struggles to reclaim higher ground and is on track for a third consecutive quarterly loss after shedding 22% in the first half of the year.
