Peter Schiff has attacked Grant Cardone’s latest investment product, arguing that adding Bitcoin to a real estate vehicle does not improve the underlying economics of property investing. The dispute centers on Cardone Capital’s newly launched $87.5 million 10X Space Coast Bitcoin Fund, which combines income-producing multifamily real estate with Bitcoin purchases and gives investors exposure to both asset classes.
Schiff says Bitcoin fixes nothing in property investing
Schiff’s main criticism is simple: he does not see any real problem in the real estate sector that Bitcoin is solving. He challenged the idea that property companies need digital assets on their balance sheets to strengthen operations or lift returns. In his view, real estate firms have operated for decades without holding Bitcoin reserves, and they do not need crypto to cover expenses or support future growth.
He also pushed back on Cardone’s criticism of traditional REITs. Cardone has argued that REIT structures are restrictive because they must distribute at least 90% of taxable income to shareholders. He says that rule leaves many firms with limited room to innovate and makes it harder to accumulate Bitcoin as a reserve asset over time.
Cardone ties rental income to ongoing BTC accumulation
Cardone unveiled the strategy at Consensus Miami 2026. Under the model, rental income from the real estate portfolio helps finance continued Bitcoin purchases. Cardone’s pitch is that investors can hold cash-flowing property while also increasing their Bitcoin exposure through the same fund structure.
Cardone Capital is targeting annual returns of 22% to 32% through the combined real estate and Bitcoin approach. He also said that nearly 80% of investors in the firm’s Bitcoin-focused real estate products previously had little or no exposure to crypto markets. That detail suggests the product is aimed not just at digital-asset natives, but also at traditional investors looking for a different entry point.
A sharper split between Bitcoin bulls and skeptics
Cardone has framed the fund as a new category of investment product that links traditional finance with digital assets. Schiff rejects that framing and argues that inserting Bitcoin into a property structure does not improve the quality of the real estate business itself.
The clash reflects a familiar divide. Bitcoin supporters continue to push the asset into corporate reserves and conventional investment products, while critics such as Schiff keep questioning whether it has a necessary role inside established sectors. Cardone is still expanding the strategy, and Schiff’s remarks have brought fresh scrutiny to the hybrid model.