Bitcoin News Today: Hybrid Portfolios Power Bitcoin Buying Spree as Market Weakness Persists

Cardone Capital's latest Bitcoin acquisition has intensified the debate over institutional strategies amid a volatile crypto market. The real estate investment firm, led by Grant Cardone, purchased 185 Bitcoin for $15.3 million at an average price of $82,500 per coin, expanding its hybrid real estate-crypto portfolio during a period of market weakness. This move follows a similar $50 million purchase of 500 BTC in October according to reports and aligns with the firm's broader strategy of using real estate cash flow to fund Bitcoin accumulation as data shows.

The purchase occurs as Bitcoin slumps below $90,000 for the first time in seven months, with U.S.-listed Bitcoin ETFs hemorrhaging over $3.79 billion in November outflows-surpassing February's record of $3.56 billion. BlackRock's iShares Bitcoin Trust (IBIT) alone accounts for 63% of these redemptions, with $2.47 billion withdrawn this month. Analysts attribute the outflows to profit-taking by long-term holders, leveraged positions unwinding, and shifting investor sentiment amid uncertainty around Federal Reserve rate cuts.

Cardone has positioned his hybrid model as a counterpoint to pure-play Bitcoin treasury companies, emphasizing real estate cash flow to justify his funds' stability. His 10x Boca Raton fund, for instance, combines 366 multifamily units with $100 million in Bitcoin holdings. "I have $125 million of EBITDA in year one," he stated, contrasting his approach with firms lacking an underlying business. This strategy mirrors that of Strategy Inc. (NASDAQ:MSTR), which recently added 8,178 BTC for $835.6 million, bringing its total holdings to 649,870 BTC.

The market's downturn has also sparked fears of a broader bear market. Bitcoin's price has fallen nearly 30% from its October peak of $126,000, while crypto ETF investors have pulled $2.9 billion this month. Despite the turbulence, Cardone remains bullish, viewing dips as opportunities to accumulate. "We filled all BTC purchases for the largest real estate-BTC hybrid in history," he tweeted, signaling intent to continue buying.

Meanwhile, the structural resilience of Bitcoin's institutional adoption remains contested. While ETF outflows reflect short-term tactical rebalancing rather than long-term disinterest, per Bitfinex analysts as per analysis, the selloff has exposed vulnerabilities in leveraged positions and corporate treasury inflows. As November nears its end, the question lingers: Is this a temporary correction or the start of a prolonged bear market?