Grant Cardone Joins Bitcoin Buying Binge As Michael Saylor Teases New BTC Buy Amid Lawsuit Shock

Real estate mogul Grant Cardone has joined the corporate Bitcoin buying binge, with his Cardone Capital announcing its first 1,000-BTC purchase.

The move comes as Michael Saylor’s Strategy (formerly MicroStrategy) signals yet another Bitcoin buy, despite a looming lawsuit tied to its Bitcoin accounting practices.

Cardone said in a June 21 post on X that Cardone Capital plans to “add another 3,000 BTC” to its balance sheet this year.

This will, he added, make the company the “first-ever real estate/btc company integrated with full BTC strategy, combining the two best in class assets.”

Cardone Capital

Saylor Teases Another Strategy Buy Even As Lawsuit Looms

While Cardone Capital becomes the latest firm to join the corporate Bitcoin buying binge, Strategy (previously known as MicroStrategy) continues its aggressive BTC accumulation. 

In a cryptic X post yesterday, Saylor teased another BTC buy. If the post is followed by an announcement of another purchase, it will be the eleventh consecutive week that the firm announces a BTC buy, data from SaylorTracker shows. 

That’s as Strategy faces a lawsuit from a disgruntled investor over allegedly “materially false and misleading statements” about an accounting practice change that applies to the company’s BTC investment strategy. 

The suit alleged the accounting change resulted in the company recording a $5.9 billion unrealized loss on its Bitcoin holdings in the first quarter.

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