Renowned economist Peter Schiff critiqued on Sunday billionaire Grant Cardone's widely touted Bitcoin (CRYPTO: BTC)– real estate hybrid model and invited him to a public debate.
Cardone's Bitcoin + Real Estate Strategy Cardone has announced several similar Bitcoin purchases over the past year as part of the hybrid model fund he has pioneered.
The investment architecture places both property assets and Bitcoin within a unified limited liability company structure.
Cardone contends the vehicle is preferable to traditional real estate investment trusts as it gives investors access to real estate cash flow while maintaining upside exposure to Bitcoin.
Schiff Questions The Rationale Peter Schiff, however, thinks combining real estate with Bitcoin "solves nothing." He argued that the rental income generated from real estate is sufficient to cover ongoing costs, including repairs and maintenance, negating the need for Bitcoin.
