Is it time to invest in bitcoin? If you are like most people, you might be on the fence about cryptocurrencies. Many financial entities were also on the fence until recently.
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As Cointelegraph reported, Grant Cardone’s real estate firm, Cardone Capital, purchased 1,000 bitcoin, highlighting a shifting investment strategy at his company. Read on for more information about Cardone’s latest move and what it means for bitcoin and your investment strategy.
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Cardone Capital’s Recent Move
On June 21, Grant Cardone posted on X (formerly Twitter) that his firm became the “first ever real estate/btc company integrated with full BTC strategy.” This comes after announcements in late April that Cardone Capital was planning to use the profit from its real estate venture to purchase 1,000 bitcoin.
As Cointelegraph reported, Cardone Capital’s purchase was worth a bit more than $101 million. And this purchase may not be the only one. CoinDesk reported that Cardone Capital is planning to add 3,000 bitcoin and 5,000 residential units by the end of the year.
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Is It Time To Invest?
As more traditional finance entities adopt cryptocurrency, more investors on the fence could enter the market. These large financial entities conduct thorough due diligence and market research before pursuing a new investment, meaning they have fully vetted bitcoin and believe in its ability to generate financial returns.
However, the decision to invest is based on your personal financial goals. Bitcoin is still a relatively new type of asset, meaning there isn’t 50 years of historical data. As a result, many investors supplement their portfolios with bitcoin. For example, they will purchase traditional investments, like mutual funds and exchange-traded funds (ETFs), and hold some funds in bitcoin.
The diversification and allocation of your portfolio between bitcoin and traditional investments will depend on your risk tolerance. If you have a high risk tolerance, you might hold higher levels of bitcoin. On the contrary, if your risk tolerance is low, bitcoin should make up a smaller part of your portfolio.
Like any investment, there is a possibility of losing your funds. However, Cardone Capital investing in bitcoin could be a positive sign. Properly balancing your portfolio, working with a financial expert and implementing consistent oversight are great ways to reduce risks.
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This article originally appeared on GOBankingRates.com: Grant Cardone’s Recent Move Could Mean Good News for Bitcoin: Is It Time To Invest?
