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Cardones optimism is based in large part on having a pro-crypto administration in power.
Donald Trumps pro crypto, Howard Lutnick, the commerce secretary, is pro crypto, Cardone said.
Everybody in the administration is like, why not have a new form of currency, which is digital?
Its proven its not a new thing.
Its 15 years old.
And then two days before Trump goes into office, he pops a meme coin.
So these people want to try new technologies around money.
However, Cardonedoesnt think everyone should go out and buy bitcoin heres why.
1 for me is, I dont want to lose my money, he said.
2 for me is, will I get cash flow?
Bitcoin doesnt meet all of these criteria, so Cardone does not recommend it as an investment.
Im not telling people to go out and buy bitcoin, he said.
What are you going to do with it?
The $87.5 million fund combines institutional-quality real estate with bitcoin purchases.
I came up with a way for people to actually own bitcoin without buying the bitcoin, he said.
Were usingreal estate cash flow, which is very stable and it has great tax write offs.
And then were adding bitcoin, which is very unpredictable, very volatile.
It could explode to the upside, it could go down.
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