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Bitcoin critic Peter Schiff has pushed back against Grant Cardone’s claim that real estate investment trusts, or REITs, should hold Bitcoin on their balance sheets. In a series of posts on X, Schiff argued that real estate businesses already generate rental income to cover repairs, maintenance, and other operating costs, making Bitcoin unnecessary for those purposes.
Responding directly to Cardone’s comments, Schiff dismissed the idea that Bitcoin can solve financial challenges in the REIT sector. He wrote, “REITs don’t need Bitcoin to cover maintenance, repairs, or capex. REITs deduct operating expenses before calculating taxable income, and depreciation reduces the income they’re required to distribute. @GrantCardone is wrong. Bitcoin doesn’t solve a REIT problem — it creates one!”
REITs don't need Bitcoin to cover maintenance, repairs, or capex. REITs deduct operating expenses before calculating taxable income, and depreciation reduces the income they’re required to distribute. @GrantCardone is wrong. Bitcoin doesn’t solve a REIT problem — it creates one!
— Peter Schiff (@PeterSchiff) June 23, 2026
Schiff Challenges Cardone’s Bitcoin Strategy
Schiff reinforced his criticism in another post on Sunday, arguing that adding Bitcoin to real estate investments does not address any real problem. He rejected Grant Cardone’s claim that REITs need Bitcoin to help cover repairs and maintenance costs, saying rental income already serves that purpose.
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Schiff also said he would not support adding gold to real estate funds. Still, he argued that gold remains a better asset than Bitcoin. In a separate post, he wrote, “There is no reason to buy gold in a real estate fund either, but it’s better than buying Bitcoin.”
The economist has long questioned Bitcoin’s role as an investment asset. He often compares it with real estate, which generates rental income and has practical use. Schiff argues that Bitcoin lacks those qualities. Despite his criticism, he has acknowledged that Bitcoin is unlikely to fall to zero.
Combining real estate with Bitcoin solves nothing. @GrantCardone claims REITs need Bitcoin on their balance sheets to sell so they can pay for repairs and maintenance. But real estate throws off rental income, which can be used to cover those ongoing costs. Happy to debate this.
— Peter Schiff (@PeterSchiff) June 21, 2026
Cardone Defends Real Estate and Bitcoin Hybrid
Cardone has continued to defend his strategy of combining real estate and Bitcoin. In a recent interview, he argued that the traditional REIT model is outdated and leaves operators with limited financial flexibility. He said holding Bitcoin could help real estate companies build reserves and manage large expenses during challenging periods.
According to Cardone, his firm has completed six real estate and Bitcoin investment deals worth more than $1 billion. He also said the company has purchased about $200 million worth of Bitcoin without using leverage. Cardone believes the structure gives investors exposure to rental income, tax advantages, and Bitcoin through a single investment vehicle.
Benefits of Real Estate + $BTC
— Grant Cardone (@GrantCardone) June 18, 2026
• Real Cash Flow
• Tax Benefits
• RE offsets $BTC volatility
• $BTC hedges RE stability
• Potential to double RE returns
• 8% preferred return to investors
Cardone Capital is first to market with Real estate / Bitcoin Hybrid. We invest in… pic.twitter.com/E5BzPBPIXo
Cardone Capital recently bought another 282 Bitcoin for roughly $18 million, increasing its holdings to more than 2,300 Bitcoin. The firm aims to raise that figure to 3,000 Bitcoin by the end of 2026.
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