Schiff: Real Estate Doesn't Need Bitcoin

Financial commentator and gold advocate Peter Schiff has slammed real estate mogul Grant Cardone’s new effort to integrate Bitcoin into real estate investments.

Schiff has stated that “combining real estate with Bitcoin solves nothing,” rejecting yet another use case for BTC.

Real estate and Bitcoin?

Grant Cardone, founder of Cardone Capital, recently introduced an investment structure that combines Bitcoin with real estate.

At the Consensus Miami 2026 conference, Cardone explained that his firm is combining cash-flowing multifamily properties with Bitcoin purchases inside a single dedicated LLC.

Cardone Capital recently launched the $87.5 million 10X Space Coast Bitcoin Fund to pull this off. This strategy revolves around using rental income from the real estate to purchase more Bitcoin.

According to Cardone, such a strategy could potentially disrupt the traditional $4 trillion Real Estate Investment Trust (REIT) industry. The traditional REIT model, which was established in the 1960s, is flawed today because it requires companies to distribute at least 90% of their taxable income as dividends to shareholders.

According to Cardone, this leaves traditional REITs structurally unable to hold Bitcoin on their balance sheets as a reserve asset. Cardone Capital is targeting expected returns of 22% to 32%.

Furthermore, Cardone noted that roughly 80% of the investors in his Bitcoin-focused real estate funds had no exposure to crypto.

Such a strategy could be useful for onboarding traditional investors into crypto.

Schiff pushes back

Schiff, a vocal skeptic of cryptocurrencies, does not buy into this premise.

According to Schiff, Cardone claims that REITs need Bitcoin on their balance sheets to ensure they can pay for necessary repairs and maintenance.