"I'm Buying Bitcoin Like Crazy" - Grant Cardone

**Scott Melker** (0:00)
Grant Cardone says he may have found a way to disrupt the $4 trillion real estate industry by combining income producing real estate with Bitcoin. In this interview, he explains why traditional REITs are broken.

**Grant Cardone** (0:10)
In 1965, there was a law written called the REIT, Real Estate Investment Trust. Part of that law, when they built that structure, was the investors would come into the REIT, but they had to distribute 90% of their currency. They can't keep currency on their balance sheet. They have no money for capex. It's a broken model.

**Scott Melker** (0:27)
How is Bitcoin real estate hybrid is attracting investors who've never owned crypto?

**Grant Cardone** (0:31)
Gerald, he's an investor in our real estate. When I showed the hybrid, the first thing he did was went and bought some Bitcoin. Jared Glant, I started doing this. He went and bought Bitcoin on the side, and his dad bought Bitcoin on the side. When they saw me combining the two, they're like, okay, something's changing.

**Scott Melker** (0:45)
And my institutions are starting to pay attention.

**Grant Cardone** (0:48)
This model that I've created, in the future, all the institutions will adopt this. It solves a problem, and the problem in real estate is capex.

**Scott Melker** (0:56)
We also discussed Michael Saylor's evolution from Bitcoin buyer to financial engineer, why Cardone believes Bitcoin is still massively undervalued, where he sees the biggest opportunities in real estate today, and the surprising reason he thinks Bitcoin's biggest problem is how it's being explained to the world. Let's go.
Can I eat these?

**Grant Cardone** (1:29)
Yeah, sure.

**Scott Melker** (1:30)
Like on camera?

**Grant Cardone** (1:31)
I don't see why you can't.

**Scott Melker** (1:32)
Do you eat cookies?

**Grant Cardone** (1:33)
I do.

**Scott Melker** (1:34)
Does it violate your...

**Grant Cardone** (1:35)
Doesn't violate anything.

**Scott Melker** (1:37)
Your longevity or something?

**Grant Cardone** (1:38)
Not mine. I take care of myself enough to wear I can eat the cookies.

**Scott Melker** (1:44)
You need a cookie every once in a while. I love cookies.

**Grant Cardone** (1:49)
Yeah.

**Scott Melker** (1:49)
Did you dress up for me?

**Grant Cardone** (1:50)
Yes. Yes, I did.

**Scott Melker** (1:52)
I put my jacket back on over my T-shirt.

**Grant Cardone** (1:56)
Oh, yeah.

**Scott Melker** (1:57)
It's been on and off. Yesterday, I was fully like...

**Grant Cardone** (1:59)
I never regret wearing... I was in New York yesterday. We were talking to one of the big institutions about the hybrid. And so I thought I'd go dress like this. And then we did a speaking gig over there.
Yeah, I never regret being in a shirt and tie.

**Scott Melker** (2:15)
You don't?

**Grant Cardone** (2:15)
No.

**Scott Melker** (2:16)
It's supposed to be more of the opposite.

**Grant Cardone** (2:18)
Later. Later, I never regret it. When I see the photos...

**Scott Melker** (2:20)
Oh, yeah, you always look good.

**Grant Cardone** (2:22)
They always look better than the T-shirt.

**Scott Melker** (2:24)
The wives love it, which is nice. My wife is like, you're going on stage, dress up. Yeah, exactly.

**Grant Cardone** (2:30)
You'll never regret it.

**Scott Melker** (2:32)
So what were you pitching them yesterday?

**Grant Cardone** (2:34)
We were talking about the real estate Bitcoin hybrid. So we showed it to one of the big banks.

**Scott Melker** (2:39)
Do they get it?

**Grant Cardone** (2:40)
Oh, yeah.

**Scott Melker** (2:41)
So they do get it?

**Grant Cardone** (2:43)
Well, they got it to the point to where they said, man, if you pull this off, you're going to disrupt the read-ins industry.

**Scott Melker** (2:49)
What's the pitch?

**Grant Cardone** (2:50)
Which is $4 trillion.

**Scott Melker** (2:51)
Yeah, casual $4 trillion.

**Grant Cardone** (2:53)
Yeah. So if I got 10% of that, if I got 5% of it, it's $200 billion.

**Scott Melker** (2:58)
Big numbers.

**Grant Cardone** (2:59)
Look, that industry hasn't changed in 60, what is it, 66 years. There's been zero change. 1965, there was a law written called the REIT, Real Estate Investment Trust, and it basically created a tax structure so that companies like a Starwood or a Blackstone that would come along later. Back then, I think it was something residential. Sam Zell created it. Yeah. And what was your, hey, Ryan, what was Sam Zell's company?
What was Sam Zell's company? Residential.

**Scott Melker** (3:37)
What? Sam Zell's company. What was the residential?

**Grant Cardone** (3:40)
EQR.

**Scott Melker** (3:42)
EQR.

**Grant Cardone** (3:42)
EQR. Yeah. Equity Residential. And so they created that structure, right? So the part of that law when they built that structure was the investors would come into the REIT, but they had to distribute 90 percent of their currency.