Grant Cardone recently listed the 10,275 square-foot beachfront mansion he bought from fashion designer Tommy Hilfiger for 646 Bitcoin (Crypto: BTC). However, he didn’t provide much context to the move when originally listing it.
He has since taken to X, formerly Twitter, to explain the move:
Why am I selling 605 Ocean Blvd?
I would rather own BTC or more multi-family than be invested in one single location. And we bought the house believing we had a vision for it that would improve the value for the next owner.
Elena and did major rehab on the exterior, taking this… pic.twitter.com/zFjSn3Qd1w
— Grant Cardone (@GrantCardone) April 14, 2024
@GrantCardone on X
In summary, Cardone would rather own Bitcoin or more multi-family real estate, which is consistent with his investing strategy over the years.
“I would rather own BTC or more multi-family than be invested in one single location,” Cardone posted. “And we bought the house believing we had a vision for it that would improve the value for the next owner.”
So, he didn’t intend on keeping the property either. He bought it with the idea of doing some renovations and flipping it for a profit.
Cardone and his wife originally acquired the property for $28 million in 2021, and the 646 Bitcoin price tag equates to about $42.7 million at the time of this writing.
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Image Credit: Grant Cardone Instagram
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This article This Is Why Grant Cardone Is Selling The Beachfront Mansion He Bought From Tommy Hilfiger for Bitcoin originally appeared on Benzinga.com
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