1 00:00:00,000 --> 00:00:05,520 Hey, hey, welcome to the Bitcoin Matrix. I'm your host, Cedric Youngelman. 2 00:00:05,900 --> 00:00:11,220 This episode is brought to you by MicroSeed, the Bitcoin self-custody maximalists. 3 00:00:11,800 --> 00:00:15,960 Stamp your 12 or 24 word seed phrase on quarter sized titanium. 4 00:00:16,700 --> 00:00:20,120 Discreet, resilient, seed security made simple. 5 00:00:20,860 --> 00:00:24,320 Use the code matrix for a discount at microseed.io. 6 00:00:24,320 --> 00:00:34,560 In this episode, I sit down with Grant Cardone, world-famous entrepreneur, sales master, real estate mogul, and the man behind the 10x movement. 7 00:00:34,860 --> 00:00:43,060 We talk about how he went from being broke and hating sales to building an empire in real estate and now bringing Bitcoin into the mix. 8 00:00:43,640 --> 00:00:50,620 Grant shares why your house is not an investment and how he scaled from single-family homes to owning thousands of units. 9 00:00:50,620 --> 00:01:02,920 We also dive into his Bitcoin journey, the big vision behind combining real estate with digital assets, and why he believes the future belongs to those who think bigger, take risks, and play the long game. 10 00:01:03,260 --> 00:01:10,720 If you want to understand cash flow, wealth, and the bold mindset it takes to 10x your life, this conversation is for you. 11 00:01:10,720 --> 00:01:18,540 If you want to get in touch with me, it's Cedric at TheBitcoinMatrix.com, where I also just got the new merch store up and running. 12 00:01:18,740 --> 00:01:24,740 So you can go get your Bitcoin Matrix gear or cash is trash t-shirts, mugs and hats. 13 00:01:24,940 --> 00:01:32,860 If you want to help support the show directly, I've added links for Venmo, PayPal, Bitcoin with Strike and a P.O. box so you can send a check or money order. 14 00:01:33,280 --> 00:01:36,240 I really appreciate your past, current and future contributions. 15 00:01:36,920 --> 00:01:39,660 It means the world to me and helps make the show sustainable. 16 00:01:40,260 --> 00:01:45,660 Also, if you could leave a five-star review wherever you listen to the Bitcoin Matrix podcast. 17 00:01:46,420 --> 00:01:50,780 Finally, please share your favorite Bitcoin Matrix episodes with your friends and family. 18 00:01:51,180 --> 00:01:53,360 These steps really help us get the word out. 19 00:01:53,360 --> 00:01:57,400 And now, let's enter the Bitcoin Matrix with Grant Cardone. 20 00:02:09,660 --> 00:02:14,100 Cash is trash. What do you do? You get out. 21 00:02:16,500 --> 00:02:22,900 Grant Cardone is an American entrepreneur, sales trainer, author, and real estate investor 22 00:02:22,900 --> 00:02:29,760 known for his 10x philosophy of massive goal setting and action. He is the founder of Cardone 23 00:02:29,760 --> 00:02:35,260 Capital, which manages a multi-billion dollar real estate portfolio and a globally recognized 24 00:02:35,260 --> 00:02:40,780 figure in business, sales training, and motivational speaking. Cardone has authored 25 00:02:40,780 --> 00:02:45,440 multiple New York Times bestselling books, including the 10x rule. Grant Cardone, 26 00:02:45,580 --> 00:02:48,040 welcome to the Bitcoin Matrix podcast. How are you? 27 00:02:48,200 --> 00:02:50,700 Hey, it's so good to be in the Matrix with you, my friend. 28 00:02:51,200 --> 00:02:56,740 Yeah, man. I'm excited to get into it. I kind of, you know, one of the things I was noticing 29 00:02:56,740 --> 00:03:00,860 when I was just kind of looking into your background is you graduated from college with 30 00:03:00,860 --> 00:03:01,620 an accounting degree. 31 00:03:01,900 --> 00:03:04,840 Yeah. I don't seem like an accountant to you. 32 00:03:04,840 --> 00:03:14,320 Well, you know, when you start listening to how you structure your deals and how, you know, we'll get into it later, maybe things like accelerated depreciation. 33 00:03:15,040 --> 00:03:18,300 I mean, the accounting kind of comes out, the accountant in you. 34 00:03:18,560 --> 00:03:19,140 Yeah, I didn't. 35 00:03:19,220 --> 00:03:19,540 I didn't. 36 00:03:19,620 --> 00:03:25,940 You know, unfortunately, for all the accountants in the world, I hope I don't open with offending those guys. 37 00:03:26,080 --> 00:03:29,460 But I went to accounting because I thought I was going to learn about money. 38 00:03:29,460 --> 00:03:30,400 I had no clue. 39 00:03:30,400 --> 00:03:35,080 at, I guess I was 18 years old when I signed up for college. 40 00:03:35,080 --> 00:03:37,340 And I'm like, okay, I'm going to be an accountant. 41 00:03:37,420 --> 00:03:39,800 Cause I asked, hey, what's the best business degree you can get? 42 00:03:39,820 --> 00:03:40,520 And they said accounting. 43 00:03:40,640 --> 00:03:41,840 So I said, okay, let's go do it. 44 00:03:42,160 --> 00:03:45,660 I thought they were going to teach me about money, 45 00:03:45,780 --> 00:03:48,680 how to get money, how to invest money, 46 00:03:49,140 --> 00:03:51,580 how to multiply it, how to create wealth. 47 00:03:51,820 --> 00:03:52,980 Dude, there's zero. 48 00:03:53,420 --> 00:03:55,540 Like I'm in my fourth year and I'm like, 49 00:03:55,700 --> 00:03:56,920 when's the money going to come? 50 00:03:57,740 --> 00:03:58,140 Nothing. 51 00:03:58,140 --> 00:04:02,220 It's all principles of accounting for the money. 52 00:04:03,420 --> 00:04:10,120 And so I wish I could give credit to college for learning about accelerated depreciation, 53 00:04:10,220 --> 00:04:12,240 but I did not learn that in college. 54 00:04:12,780 --> 00:04:19,240 I learned it when I was 35 years old and I was trading a deal. 55 00:04:19,640 --> 00:04:21,680 Actually, probably learned about it a little later than that. 56 00:04:21,680 --> 00:04:27,120 But most of what I learned in college was only bad habits. 57 00:04:27,120 --> 00:04:32,740 and most of what I've learned in real life about success in business and 58 00:04:32,740 --> 00:04:36,660 multiply money has been from being in the arena. Yeah. 59 00:04:36,740 --> 00:04:37,820 Not in the college. 60 00:04:37,920 --> 00:04:39,260 Well, maybe talking about the arena, 61 00:04:39,400 --> 00:04:41,760 what did you do when you came out of college with your accounting degree? 62 00:04:41,760 --> 00:04:45,260 Yeah, well, I did. I did. Cedric would, you know, 63 00:04:45,300 --> 00:04:50,480 probably 45% of all college students do is I went and did something I didn't 64 00:04:50,480 --> 00:04:54,340 study for. So I ended up selling cars, 65 00:04:54,340 --> 00:04:56,500 graduation night. 66 00:04:56,940 --> 00:04:59,100 I'm graduating from college 67 00:04:59,100 --> 00:05:00,460 with an accounting degree. 68 00:05:01,640 --> 00:05:02,600 I guess I was 69 00:05:02,600 --> 00:05:04,780 20, 21 70 00:05:04,780 --> 00:05:06,920 years old then. I'm selling 71 00:05:06,920 --> 00:05:08,820 a Toyota 72 00:05:08,820 --> 00:05:11,060 when I 73 00:05:11,060 --> 00:05:12,800 should have been getting my degree and my 74 00:05:12,800 --> 00:05:14,820 gown and hat. I'm selling 75 00:05:14,820 --> 00:05:17,200 a Toyota to the Chevrolet 76 00:05:17,200 --> 00:05:18,360 dealer's wife. 77 00:05:19,360 --> 00:05:20,300 That's funny. 78 00:05:21,080 --> 00:05:22,820 And how long did you sell cars 79 00:05:22,820 --> 00:05:27,200 for. I got paid twice on that deal, by the way, but not everybody understands what that means. 80 00:05:27,560 --> 00:05:34,600 Right. How long did you sell cars for? I sold automobiles. It was the only job I could get in 81 00:05:34,600 --> 00:05:39,080 the town that I worked in. I literally got out of college. I was in the unemployment line. 82 00:05:39,880 --> 00:05:45,140 One out of four people were unemployed where I lived. I was living in a refinery town in Louisiana. 83 00:05:45,720 --> 00:05:49,280 I'm in the unemployment line because I've been trying to get jobs and I can't get jobs. 84 00:05:49,280 --> 00:05:52,980 And my uncle grabs me out of the line and says, what are you doing here? 85 00:05:53,420 --> 00:05:55,160 He called me Neff for nephew. 86 00:05:55,840 --> 00:05:57,540 And he's like, Neff, what are you doing here? 87 00:05:57,580 --> 00:05:58,500 Because he didn't know my name. 88 00:05:58,560 --> 00:05:59,540 I'm an identical twin. 89 00:05:59,640 --> 00:06:00,980 So he didn't know which one I was. 90 00:06:01,200 --> 00:06:02,660 And he said, Neff, what are you doing here? 91 00:06:02,680 --> 00:06:04,280 I said, I'm in the unemployment line. 92 00:06:04,320 --> 00:06:07,780 He said, you didn't go to college to be unemployed. 93 00:06:08,260 --> 00:06:10,500 And I said, I know, but I can't get a job. 94 00:06:10,680 --> 00:06:14,040 And he's like, I'll get you a job selling, selling Toyotas tomorrow. 95 00:06:14,940 --> 00:06:18,020 And I said, I didn't go to college to learn how to sell cars. 96 00:06:18,020 --> 00:06:24,240 and he's like, you didn't go to college to be in this line either. You're going to go to work. 97 00:06:24,240 --> 00:06:31,260 My dad had passed 15 years before that. So he kind of took me under his arm and said, 98 00:06:31,360 --> 00:06:36,060 just come on, dude. I'm going to show you. You got to learn sales anyway. And so sure enough, 99 00:06:36,120 --> 00:06:42,160 I got a job selling cars the next day. I hated it. Hated the idea that I was a car salesman. 100 00:06:42,160 --> 00:06:49,940 imagine spending five years to get a college degree in accounting. And now you're flipping 101 00:06:49,940 --> 00:06:55,760 Toyotas. It did not feel good. Did it ever start feeling good? Did you start liking being a sales 102 00:06:55,760 --> 00:07:05,360 person? Yeah. I mean, it started feeling good when I quit resisting it. So it's a hard job, 103 00:07:05,360 --> 00:07:11,160 and retail sales is very, very difficult. It's even more difficult if you don't know what you're 104 00:07:11,160 --> 00:07:16,420 doing. Nobody that's no good at it likes it. Everybody that says they hate sales is basically 105 00:07:16,420 --> 00:07:22,440 just saying, I never learned how to do it. The first two years was miserable because I didn't 106 00:07:22,440 --> 00:07:26,780 learn anything. I wasn't reading books. I wasn't studying. I'm like, okay, I'm gonna be a bartender 107 00:07:26,780 --> 00:07:30,900 and not ever get a lesson. You're not gonna like being a bartender. Like you're not gonna like 108 00:07:30,900 --> 00:07:34,620 anything if you don't know what you're doing and if you're failing at it. And I was failing more 109 00:07:34,620 --> 00:07:41,140 than I was winning. And then I was 25 years old and a guy threw me a cassette tape and I threw 110 00:07:41,140 --> 00:07:47,680 quit my car and I started listening to it. And this guy had a system and the system was how to 111 00:07:47,680 --> 00:07:54,740 actually control a customer from the greeting to the close. And I was like, oh, I didn't know 112 00:07:54,740 --> 00:08:02,340 there was a system. Shit. I just finished studying for 17 years and got out of college and I quit 113 00:08:02,340 --> 00:08:07,100 studying. That's the first thing I, one of the first things I really learned about life and 114 00:08:07,100 --> 00:08:11,740 success is if you're going to quit studying, you're going to get miserable. Like it's when we're 115 00:08:11,740 --> 00:08:18,040 learning and getting, we get better at things and that's when we're happiest. And so literally like 116 00:08:18,040 --> 00:08:22,820 this little cassette tape was 25 minutes. I listened to it. I'm like, Oh my God, this is 117 00:08:22,820 --> 00:08:28,320 amazing. And I was so inspired and excited to take a customer for the first time in two years. 118 00:08:28,320 --> 00:08:35,680 I was excited to go try this one thing that I learned on a customer. I tried it. The guy told 119 00:08:35,680 --> 00:08:42,720 me this. I remember this. He says, don't call it a payment, call it an investment. And I was like, 120 00:08:42,800 --> 00:08:48,800 this is great. It was so stupid. That's the only thing I learned the first time I listened to this 121 00:08:48,800 --> 00:08:55,380 tape. And that night I'm like, sir, your investment's $336 a month. And the guy's like, 122 00:08:55,500 --> 00:09:00,360 yeah, that sounds great, man. Let's do it. And I was like, oh my God, this is magic. 123 00:09:01,300 --> 00:09:04,620 And then I fell in love with sales and I became great at it. 124 00:09:04,640 --> 00:09:16,420 I've written, I don't know, four or five books on sales, ended up becoming one of the leading authorities on sales, retail sales, customer satisfaction, customer attention, customer conversion. 125 00:09:17,180 --> 00:09:23,280 I've traveled the entire planet working with Fortune 500 companies and smaller or bigger. 126 00:09:23,620 --> 00:09:27,220 These are multi-billion dollar companies that, you know, paid me to go out and teach. 127 00:09:27,220 --> 00:09:30,220 And this is, keep in mind, this is a job that I hated. 128 00:09:31,040 --> 00:09:40,100 So sometimes the things you hate, dude, sometimes the things you don't understand are the ones that are really the stairway to the next evolution of who you are. 129 00:09:40,800 --> 00:09:45,940 Right. Well, speaking of maybe the next evolution, when did you fall down the real estate rabbit hole? 130 00:09:46,400 --> 00:09:47,640 I was 28 years old. 131 00:09:48,180 --> 00:09:52,020 I had, I was starting to make some money in sales and I was starting to stack it. 132 00:09:52,020 --> 00:09:59,040 I think I had at that time, I might've had, I don't know, 28, probably had 30 or 40,000 bucks. 133 00:09:59,420 --> 00:10:05,280 That was a lot of money to me because I got out of college with $40,000 of debt. So I'd gotten 134 00:10:05,280 --> 00:10:10,440 rid of the debt. I was out of credit card debt and I was starting to stack and I was starting 135 00:10:10,440 --> 00:10:15,960 to have confidence in myself. I started looking at real estate. I'd always believed in real estate. 136 00:10:15,960 --> 00:10:17,240 It makes sense to me. 137 00:10:17,320 --> 00:10:17,700 It's real. 138 00:10:18,760 --> 00:10:23,120 And I found a little single family house in Bel Air, Texas. 139 00:10:23,320 --> 00:10:24,360 It was $78,000. 140 00:10:24,900 --> 00:10:26,360 It was 1986. 141 00:10:27,540 --> 00:10:28,580 Let's see, I'm 28. 142 00:10:29,000 --> 00:10:29,860 Yeah, 1986. 143 00:10:30,540 --> 00:10:32,680 I put $3,000 down. 144 00:10:33,840 --> 00:10:34,840 I'm amazed. 145 00:10:35,020 --> 00:10:40,580 I'm like, I'm putting three grand down, and I get to own the house for $75,000. 146 00:10:41,080 --> 00:10:42,140 I had to sign a note. 147 00:10:43,300 --> 00:10:44,340 Bank gave me a loan. 148 00:10:44,340 --> 00:10:46,860 I rented it to this girl named Jana. 149 00:10:47,180 --> 00:10:49,120 Jana, she was awesome, by the way. 150 00:10:49,360 --> 00:10:52,900 Jana paid $4.75 a month, and my note was $2.75. 151 00:10:54,460 --> 00:10:58,440 And I'm like, it's 200 times 12 is 24. 152 00:10:59,280 --> 00:11:00,640 I put three grand down. 153 00:11:01,500 --> 00:11:04,040 In 15 months, I had my down payment back. 154 00:11:04,480 --> 00:11:05,700 I'm like, I'm going to become rich. 155 00:11:06,340 --> 00:11:08,000 And it was like, bang, I was off to the races. 156 00:11:09,440 --> 00:11:13,500 And in the next three years, I'd have, I don't know, 500 units. 157 00:11:13,820 --> 00:11:14,220 Wow. 158 00:11:14,340 --> 00:11:21,320 what was it like scaling? Well, you know, the scaling thing, it's interesting because I learned 159 00:11:21,320 --> 00:11:28,340 the power of scaling when I was 30, before 30, I was traveling on the road, teaching sales, 160 00:11:29,260 --> 00:11:34,140 250 days of the year. And I was starting to get paid a lot of money or whatever was a lot of money 161 00:11:34,140 --> 00:11:39,100 at that time to me. And I said, I'm like, I got to do something with this money now. And I really 162 00:11:39,100 --> 00:11:43,700 didn't understand scaling my own business because it was, it was just talent driven. It was like 163 00:11:43,700 --> 00:11:48,120 just being a, you know, being a, I was a talent and I could get in front of an audience and people 164 00:11:48,120 --> 00:11:53,140 were paying me for, for this consulting advice. I bought that one unit. I bought a second unit 165 00:11:53,140 --> 00:11:59,200 and I'm like, I'll never scale this two units at a time. So the third deal I did was 48 units. 166 00:12:00,320 --> 00:12:04,900 And you know, the, the, the thing about real estate, real estate is one of the easiest hacks 167 00:12:04,900 --> 00:12:10,200 on scaling there is in the world. It is probably the, I've been in a lot of businesses for over 168 00:12:10,200 --> 00:12:17,180 40 years and my consulting business, education business, the internet, even becoming a social 169 00:12:17,180 --> 00:12:23,460 media, you know, whatever I am, you know, have an influence on the internet, writing books, 170 00:12:23,900 --> 00:12:28,560 doing big events, a company, 10X Health Company, another consulting company. 171 00:12:28,560 --> 00:12:30,980 We do about a billion dollars a year in sales now. 172 00:12:32,080 --> 00:12:38,680 And those companies compared to scaling real estate are so complicated. 173 00:12:38,680 --> 00:12:45,680 real estate I can go by remember I went one unit two units I had 500 units in in under four years 174 00:12:45,680 --> 00:12:50,120 it was just buy buy a building buy another building buy another building like you're 175 00:12:50,120 --> 00:12:58,680 investing into the scale and um somebody somebody said to me yesterday actually they said you haven't 176 00:12:58,680 --> 00:13:04,860 hired anybody uh in in a couple years and I'm like uh I bought three companies what are you 177 00:13:04,860 --> 00:13:05,440 talking about. 178 00:13:07,040 --> 00:13:07,440 Right. 179 00:13:07,760 --> 00:13:09,500 So I don't have to go out and hire Bob. 180 00:13:09,640 --> 00:13:10,960 Why don't I just buy the whole company? 181 00:13:11,480 --> 00:13:16,320 We've increased our real estate portfolio in the last four years by $3 billion. 182 00:13:16,800 --> 00:13:17,980 They all come with employees. 183 00:13:18,380 --> 00:13:19,760 They all come with customers. 184 00:13:20,620 --> 00:13:34,715 They all come with plumbing roofs like income cashflow It a fantastic business So you can do them one at a time But if you can buy my third deal was 48 units My fourth deal was 38 units 185 00:13:35,235 --> 00:13:37,535 My fifth deal was 92 units. 186 00:13:37,735 --> 00:13:38,835 That was the scale. 187 00:13:38,975 --> 00:13:40,055 It wasn't a single family house. 188 00:13:40,115 --> 00:13:42,015 I actually quit doing those after the first two. 189 00:13:42,695 --> 00:13:47,335 How did you start, you know, you have kind of all these epiphanies when you're young. 190 00:13:47,775 --> 00:13:50,775 How did you, you know, you buy the first house with 3,000 down. 191 00:13:50,775 --> 00:13:53,355 So you're talking like a high leverage ratio there. 192 00:13:53,555 --> 00:13:55,555 You start scaling up really quick. 193 00:13:56,055 --> 00:13:59,135 How did you start thinking about leverage and how to manage it? 194 00:13:59,815 --> 00:14:04,155 Well, back then, I didn't really understand leverage. 195 00:14:04,315 --> 00:14:10,375 The more dangerous part of the leverage equation in that situation is I was dependent upon one tenant. 196 00:14:10,915 --> 00:14:19,175 Now, I agree with you that the leverage, $3,000 to $78,000, that leverage was very dangerous, but I didn't scale that leverage. 197 00:14:19,735 --> 00:14:20,815 Right. You started managing it. 198 00:14:21,415 --> 00:14:26,255 Yeah. See, I bought one unit. The first unit I bought with three grand. The second unit I bought 199 00:14:26,255 --> 00:14:32,515 with no money, 100% financing. The third deal I put 20% down. So I quit doing this over leverage 200 00:14:32,515 --> 00:14:37,815 after the first two deals, but more in part, more dangerous than the leverage that I used. 201 00:14:37,815 --> 00:14:43,255 I sold those first two single family homes off because of the leverage. But the more dangerous 202 00:14:43,255 --> 00:14:48,015 part of that equation was the dependency upon one tenant. The moment you get rid of the one 203 00:14:48,015 --> 00:14:53,115 tenant phenomenon, you know, you actually remove the worst part of the leverage formula, 204 00:14:54,115 --> 00:15:02,715 which is when I bought 48 units, I could lose 12 customers before and I would still be at 75% 205 00:15:02,715 --> 00:15:07,975 occupied, which means I'm cashflow positive. In the first scenario, if I lose one tenant, 206 00:15:08,415 --> 00:15:14,375 I'm 100%, I'm completely done. I mean, the game's over. If I lose, well, I can't lose two tenants 207 00:15:14,375 --> 00:15:15,715 because I don't even have two doors. 208 00:15:16,235 --> 00:15:18,255 So the way to reduce the leverage first, 209 00:15:18,335 --> 00:15:19,455 and nobody ever talks about this, 210 00:15:19,575 --> 00:15:21,535 is the scaling the number of units. 211 00:15:21,895 --> 00:15:24,015 In real estate, in any business, by the way, 212 00:15:24,295 --> 00:15:25,375 the most important, in Bitcoin, 213 00:15:25,855 --> 00:15:27,255 the most important number in Bitcoin 214 00:15:27,255 --> 00:15:28,255 is not what you paid for. 215 00:15:28,955 --> 00:15:30,475 It's how many units do you have? 216 00:15:31,395 --> 00:15:33,095 Either how many Satoshis do you have 217 00:15:33,095 --> 00:15:34,415 or how many Bitcoins do you have? 218 00:15:34,615 --> 00:15:36,255 Same thing with gold, silver. 219 00:15:37,075 --> 00:15:38,895 How many shares of Google stock do you have? 220 00:15:39,295 --> 00:15:41,615 Guys like, man, I bought Google when it was brand new. 221 00:15:41,615 --> 00:15:44,495 Next question asks is how many shares do you have? 222 00:15:44,575 --> 00:15:47,175 Because if you have one share, bro, you ain't rich. 223 00:15:47,675 --> 00:15:48,775 You got to scale, right? 224 00:15:48,795 --> 00:15:49,895 You have to have the number of units. 225 00:15:50,275 --> 00:15:55,555 So this is why I always say a single family home is the worst real estate investment you 226 00:15:55,555 --> 00:15:59,435 will ever make in your life is a single family home, whether you live in it or rent it. 227 00:15:59,655 --> 00:16:01,235 A lot of people seem to start there. 228 00:16:01,815 --> 00:16:02,855 Yeah, they shouldn't. 229 00:16:03,195 --> 00:16:08,775 You should end up there because you made wealth, not start there to create wealth. 230 00:16:08,775 --> 00:16:13,475 It's an American phenomenon that we feel so entitled that we need to own our home. 231 00:16:14,075 --> 00:16:19,455 This was this was programming by the banks so they could sell a 30 year mortgage and trap people. 232 00:16:20,155 --> 00:16:27,595 A home is not an investment. It is something people should do when they are wealthy, not something on their way to the wealth target. 233 00:16:28,715 --> 00:16:35,275 Because Elon owns one house. He only owns one house, by the way, because he's got 19 kids or something. 234 00:16:35,275 --> 00:16:38,255 And he's Elon and he needs a place to protect his kids. 235 00:16:38,655 --> 00:16:39,915 Otherwise, he wouldn't own a home. 236 00:16:40,395 --> 00:16:43,895 When he was scaling to be one of the richest people in the world, he didn't own a home. 237 00:16:44,335 --> 00:16:44,975 Warren Buffett. 238 00:16:45,095 --> 00:16:46,235 And I get this argument. 239 00:16:46,335 --> 00:16:49,215 It's crazy how many people argue about this home thing. 240 00:16:49,215 --> 00:16:57,835 Their last bastion of freedom is your single family home and your address that you probably don't even own, by the way. 241 00:16:57,955 --> 00:17:02,135 Even if it's paid off, you're still due property taxes. 242 00:17:02,415 --> 00:17:03,675 So you don't really ever own it. 243 00:17:03,675 --> 00:17:20,215 But, you know, Warren Buffett has one home. Steve Jobs had one home. Larry Ellison. Larry Ellison is a home freak. He loves houses. OK, well, he's worth 200 billion dollars, too. Like he's got 23 homes or something. But that's not where his wealth, as you know, was created. 244 00:17:20,215 --> 00:17:28,635 Donald Trump. How many homes does Donald Trump have? None. None. He owns no homes. He owns 245 00:17:28,635 --> 00:17:34,795 Mar-a-Lago and he happens to live there. He owns Trump Tower and he happens to live there. 246 00:17:35,275 --> 00:17:39,275 He runs the White House and happens to live there, but he doesn't own a house. 247 00:17:40,575 --> 00:17:45,955 And I think people take that out of context and say, well, I can't be, you know, I can't be those 248 00:17:45,955 --> 00:17:50,615 people, well, you can't be those people because people are doing things in the wrong order. 249 00:17:51,935 --> 00:17:58,635 You know, you should have a home once you're wealthy and use houses to produce income and 250 00:17:58,635 --> 00:18:04,855 cash flow and tax write-offs to rent to other people and one day live off the cash flow. 251 00:18:05,315 --> 00:18:08,475 That's at least my premise that so many people hate me about. 252 00:18:08,895 --> 00:18:11,675 When it comes to Bitcoin, the rules are simple. 253 00:18:11,675 --> 00:18:16,635 run your own node, hold your own keys, and protect your seed phrase. 254 00:18:17,255 --> 00:18:19,075 That's where MicroSeed comes in. 255 00:18:19,715 --> 00:18:24,295 Unlike bulky backups, MicroSeed is stamped onto a tiny steel washer. 256 00:18:24,975 --> 00:18:30,575 Fireproof, waterproof, and so small you can carry it anywhere or hide it in plain sight. 257 00:18:31,135 --> 00:18:36,255 Go to MicroSeed.io and use the code MATRIX for a discount on your order. 258 00:18:37,915 --> 00:18:39,275 Yeah, it's so interesting. 259 00:18:39,275 --> 00:18:48,815 It makes me wonder, you know, should people, you know, maybe sell the home they're living in to forge their way towards more wealth? 260 00:18:49,115 --> 00:18:52,135 That sounds like kind of like the logical path we're outlining. 261 00:18:52,315 --> 00:18:52,995 I did. 262 00:18:53,775 --> 00:18:54,175 Right. 263 00:18:54,595 --> 00:18:55,035 I did. 264 00:18:55,115 --> 00:18:56,075 I made the same mistake. 265 00:18:56,155 --> 00:19:01,115 I bought a house for myself in La Jolla, sold it, took all the money, put it into a house in L.A. 266 00:19:02,135 --> 00:19:04,695 After I realized what I was doing, I'm like, how are you going to get rich? 267 00:19:04,775 --> 00:19:06,615 Do you keep buying stuff for yourself? 268 00:19:07,395 --> 00:19:09,135 You're buying stuff for yourself. 269 00:19:09,275 --> 00:19:14,075 Okay. I bought this beautiful house in La Jolla, California. 270 00:19:14,595 --> 00:19:17,155 I bought it with no money down, by the way. It was a great deal. 271 00:19:17,335 --> 00:19:20,495 I didn't use any of my own money. I used my credit line. 272 00:19:21,175 --> 00:19:24,015 It was on the beach, on the ocean, in a correction. 273 00:19:24,275 --> 00:19:26,035 There was a massive correction. I bought it. 274 00:19:26,955 --> 00:19:30,415 So I didn't spend any of my money. I took the $3 million. It grew to $9 million. 275 00:19:30,415 --> 00:19:34,915 I made $6 million. I took the $6 million, bought another house in Los Angeles, 276 00:19:35,575 --> 00:19:38,855 told the IRS that I was going to improve it and sell it and flip it. 277 00:19:39,275 --> 00:19:40,675 Called it an investment property. 278 00:19:40,735 --> 00:19:41,255 It wasn't. 279 00:19:41,815 --> 00:19:45,335 One day I woke up and said, what am I doing with all this money in this house? 280 00:19:45,615 --> 00:19:46,435 This is ridiculous. 281 00:19:48,355 --> 00:19:49,055 Sold it. 282 00:19:49,575 --> 00:19:50,775 That's the last time I did this. 283 00:19:50,895 --> 00:19:51,935 I sold that house. 284 00:19:52,375 --> 00:19:57,195 I took all the equity, parked it into an apartment deal, 1,100 units in Florida. 285 00:19:59,055 --> 00:20:00,395 This is 2012. 286 00:20:00,815 --> 00:20:01,955 Massive correction going. 287 00:20:02,615 --> 00:20:06,015 Moved myself to Miami and rented a condo. 288 00:20:06,015 --> 00:20:15,675 I went from living in Lionel Richie's house with Leo DiCaprio as my neighbor, overlooking Dr. Dre, watching Eminem drive to my house. 289 00:20:15,835 --> 00:20:17,355 Keanu Reeves is right behind me. 290 00:20:17,415 --> 00:20:19,915 Like, it was so cool, dude, living in this thing. 291 00:20:20,135 --> 00:20:20,955 But I'm paying. 292 00:20:21,495 --> 00:20:22,215 I'm paying. 293 00:20:22,875 --> 00:20:30,095 Grabbed all that dough, gave up the house, put the money in this Miami investment, 1,100 units. 294 00:20:30,915 --> 00:20:33,535 I think we put $15 million in that thing. 295 00:20:33,535 --> 00:20:40,495 I scrapped all my equity together, borrowed money from my brother, my sister, my mom, everybody, banged my credit cards. 296 00:20:40,615 --> 00:20:43,455 I went into debt and then went and rented in Miami. 297 00:20:43,875 --> 00:20:51,715 And that $15 million today, those 1,100 units in 13 years is worth $315 million. 298 00:20:52,475 --> 00:20:58,915 That house, that house that I lived in in Los Angeles is probably worth. 299 00:20:59,355 --> 00:21:01,475 Well, Alice Walton bought it from me. 300 00:21:01,475 --> 00:21:04,355 So, but it's probably worth, I sold it for 17. 301 00:21:04,495 --> 00:21:06,695 It's probably worth 30 or 40. 302 00:21:07,215 --> 00:21:10,375 So it would appear that that single family home was a good deal. 303 00:21:10,515 --> 00:21:13,135 I could have stayed there and still made more money on it, 304 00:21:13,135 --> 00:21:15,715 but that house ain't worth 300 million. 305 00:21:17,415 --> 00:21:21,755 So that, that property that I, I said, I'm selling the house. 306 00:21:21,795 --> 00:21:23,535 It's an, it's a liability. 307 00:21:24,195 --> 00:21:27,815 I don't need a house to own. 308 00:21:28,355 --> 00:21:31,455 Supposedly, I'm going to convert that dough to real estate. 309 00:21:31,475 --> 00:21:37,255 the cash flows and has unlimited tax write-offs, by the way. I'm going to put 15 in that deal and 310 00:21:37,255 --> 00:21:42,695 I'm going to let it start spitting cash at me. It was paying me 12%. It paid me 12% every month 311 00:21:42,695 --> 00:21:47,995 for 12 years. So imagine that. I refinanced the deal at three years, got all my 15 back, 312 00:21:48,095 --> 00:21:54,475 still own the asset, just refinanced it again two weeks ago. I pulled 50 million out of it one time. 313 00:21:54,575 --> 00:21:59,855 I just pulled another $77 million out of it, still own the asset and it's still cash flows. 314 00:21:59,855 --> 00:22:07,115 So I pulled all my money out the first time, pulled out another 40 million after that, pulled out another 77 million last week. 315 00:22:07,355 --> 00:22:09,555 No tax implications. 316 00:22:09,975 --> 00:22:10,415 Zero. 317 00:22:11,795 --> 00:22:12,975 Still on the asset. 318 00:22:13,455 --> 00:22:14,095 But you know what? 319 00:22:14,135 --> 00:22:14,795 I had to rent. 320 00:22:15,975 --> 00:22:16,815 Oh, woe is me. 321 00:22:17,455 --> 00:22:23,575 And where I moved to, I'm sorry to interrupt you, but where I moved to, what was crazy was I rented a condo in Miami. 322 00:22:23,915 --> 00:22:27,055 And the guy that rented the condo to me loses money. 323 00:22:27,295 --> 00:22:29,775 I'm paying less in rent than he pays. 324 00:22:29,855 --> 00:22:38,495 in HOA fees, property taxes, and the cost of his money. So I agree. I love renting. But let's say, 325 00:22:38,575 --> 00:22:43,095 you know, you're in your rental and after a few years, you know, you kind of want to eliminate 326 00:22:43,095 --> 00:22:47,955 maybe location risk. I want to live here. Maybe you have children, you want them in the same school, 327 00:22:48,575 --> 00:22:53,615 or you just like that block. You like the restaurant nearby. Maybe you also want sort of 328 00:22:53,615 --> 00:22:55,975 to do things to the domicile, 329 00:22:56,175 --> 00:22:58,015 like add like a home water filter 330 00:22:58,015 --> 00:23:01,235 or do augment the property in a way 331 00:23:01,235 --> 00:23:03,495 maybe you wouldn't feel comfortable as a renter. 332 00:23:03,935 --> 00:23:05,215 What is sort of your take on like, 333 00:23:05,235 --> 00:23:06,195 maybe people want to buy 334 00:23:06,195 --> 00:23:08,035 so they can kind of do those things? 335 00:23:08,235 --> 00:23:11,755 Yeah, dude, look, I have 14,200 units. 336 00:23:11,795 --> 00:23:14,375 If you want to add a water filter, but I do not. 337 00:23:14,375 --> 00:23:15,175 Well, maybe people don't, 338 00:23:15,275 --> 00:23:16,575 they don't want to do it to a rental. 339 00:23:16,715 --> 00:23:18,575 They're like, oh, I'd live without the water filter 340 00:23:18,575 --> 00:23:20,495 because I won't do it to a rental. 341 00:23:20,575 --> 00:23:22,795 So I want to buy so I can have all those. 342 00:23:22,795 --> 00:23:26,035 If that's all it takes to keep you for another 14 months, let me do it for you. 343 00:23:27,235 --> 00:23:29,775 Just go ask the guy that owns the property. 344 00:23:29,855 --> 00:23:30,595 He'll do it for you. 345 00:23:31,615 --> 00:23:32,255 Fair enough. 346 00:23:32,815 --> 00:23:33,315 I don't know. 347 00:23:33,615 --> 00:23:36,935 Now, if it's, well, I want to be in the right school system. 348 00:23:37,055 --> 00:23:38,355 You can rent in the right school system. 349 00:23:38,355 --> 00:23:43,815 In the top 50 cities in America today, only two of them, only two out of 50, 350 00:23:44,195 --> 00:23:47,975 is it cheaper to rent than to home. 351 00:23:48,995 --> 00:23:52,315 In 48 of them, it is 50% cheaper. 352 00:23:52,795 --> 00:24:00,215 So Austin, San Francisco, New York, Chicago, Miami, Fort Lauderdale, Tampa, Orlando, Atlanta, 353 00:24:00,575 --> 00:24:01,015 LA. 354 00:24:01,295 --> 00:24:03,035 I mean, just go down the damn list, dude. 355 00:24:03,115 --> 00:24:04,635 It is cheaper by 50%. 356 00:24:05,335 --> 00:24:11,635 One, in just payments alone, the average payment in America today with HOA, property taxes, 357 00:24:11,795 --> 00:24:13,895 maintenance, and what did I miss there? 358 00:24:14,155 --> 00:24:17,015 Mortgage rates is about $3,800. 359 00:24:17,555 --> 00:24:19,415 The average rent is $1,500 nationwide. 360 00:24:20,115 --> 00:24:21,995 Yeah, if they don't treat you right, leave. 361 00:24:22,215 --> 00:24:22,695 Okay. 362 00:24:22,795 --> 00:24:25,575 Now, if you want to be in the right school system, you would move. 363 00:24:25,795 --> 00:24:30,315 Look, I would rather personally pay $4,000 in rent than $4,000 in a mortgage. 364 00:24:31,535 --> 00:24:33,975 We're assuming I'm getting the same school system. 365 00:24:34,395 --> 00:24:34,635 Right. 366 00:24:34,955 --> 00:24:38,615 Your kids do not know whether you rent or whether you have a mortgage. 367 00:24:38,615 --> 00:24:42,035 They have no clue what your credit score is. 368 00:24:42,575 --> 00:24:46,455 They don't know if a car has a car payment or a car lease. 369 00:24:47,635 --> 00:24:48,575 You know what I'm saying? 370 00:24:48,735 --> 00:24:49,375 Like, they don't know. 371 00:24:49,775 --> 00:24:52,455 And by the way, you're sending your kids to schools that you don't own. 372 00:24:52,795 --> 00:24:54,495 You rent the school, you don't own the school. 373 00:24:54,495 --> 00:24:56,155 Right. Good point. 374 00:24:56,855 --> 00:25:01,495 So now, does there come a time where I'm like, you know, I own two homes today. 375 00:25:01,595 --> 00:25:04,755 So I'm not like, I own a house in Malibu, $40 million. 376 00:25:05,115 --> 00:25:06,275 It's a complete waste of money. 377 00:25:06,675 --> 00:25:07,535 It's unbelievable. 378 00:25:08,155 --> 00:25:10,315 Okay. I think I'm going to make money on it one day, Cedric. 379 00:25:10,395 --> 00:25:11,775 But I think it's still stupid. 380 00:25:11,935 --> 00:25:13,555 I'd rather have $40 million of Bitcoin. 381 00:25:13,935 --> 00:25:15,935 I have another house in Golden Beach. 382 00:25:16,035 --> 00:25:17,035 It's $42 million. 383 00:25:17,575 --> 00:25:19,155 It's amazing. It's fantastic. 384 00:25:19,475 --> 00:25:21,455 It is a pain in my ass as well. 385 00:25:21,455 --> 00:25:27,855 And I'd rather have $42 million worth of cash flow real estate that pays me another $4 million a year. 386 00:25:28,015 --> 00:25:30,155 And I rent two blocks away. 387 00:25:30,555 --> 00:25:31,155 So I'm a renter. 388 00:25:31,855 --> 00:25:34,875 And every time something breaks, I call up and say, fix this now. 389 00:25:35,675 --> 00:25:36,235 I love that. 390 00:25:36,675 --> 00:25:37,415 No, that's great. 391 00:25:37,975 --> 00:25:41,975 When did you start noticing or fall down the Bitcoin rabbit hole? 392 00:25:42,635 --> 00:25:43,335 Yeah, it's interesting. 393 00:25:43,595 --> 00:25:47,555 About 12 years ago, I was a guy called up. 394 00:25:48,055 --> 00:25:50,395 It was a multi-level marketing company. 395 00:25:50,395 --> 00:25:52,315 that wanted, they were involved in Bitcoin. 396 00:25:53,215 --> 00:25:55,335 I didn't know what Bitcoin was, had no clue. 397 00:25:55,415 --> 00:25:57,075 And they said, hey, we'd like Grant. 398 00:25:57,395 --> 00:25:59,075 The owner was a big fan of mine. 399 00:25:59,155 --> 00:26:00,815 He's like, we'd like Grant to speak 400 00:26:00,815 --> 00:26:02,815 at our conference in Vegas. 401 00:26:03,695 --> 00:26:08,035 And my guy sent the contract for the fee. 402 00:26:08,835 --> 00:26:11,915 And they said, well, we can't pay you in money, 403 00:26:11,915 --> 00:26:13,175 but we can pay you in Bitcoin. 404 00:26:14,235 --> 00:26:17,635 And Jared's like, nah, we don't know what Bitcoin is. 405 00:26:18,115 --> 00:26:19,295 And I heard Jared say that. 406 00:26:19,295 --> 00:26:23,195 And I'm like, that's our fault, not his fault. 407 00:26:23,775 --> 00:26:25,515 I said, Jared, find out if you can pay cash. 408 00:26:25,535 --> 00:26:26,815 He said, no, I cannot pay money. 409 00:26:27,015 --> 00:26:28,715 I can only pay you like this. 410 00:26:29,375 --> 00:26:34,555 And I said, okay, well, 12 years ago, Bitcoin was 500 bucks or 480 or something like that. 411 00:26:34,555 --> 00:26:34,815 Okay. 412 00:26:35,715 --> 00:26:37,375 I said, Jared, look, I'm there anyway. 413 00:26:37,875 --> 00:26:38,655 I like the guy. 414 00:26:38,755 --> 00:26:39,515 He's a nice dude. 415 00:26:39,635 --> 00:26:41,235 Seems like he's got a great business. 416 00:26:41,815 --> 00:26:43,735 There's going to be 500 or 600 people there. 417 00:26:44,395 --> 00:26:46,315 Maybe I go there and I sell them something else. 418 00:26:46,455 --> 00:26:46,875 I don't know. 419 00:26:47,055 --> 00:26:47,315 Shit. 420 00:26:47,875 --> 00:26:48,095 You know? 421 00:26:48,095 --> 00:26:50,995 and maybe they'll buy some books while I'm there. 422 00:26:50,995 --> 00:27:01,691 Whatever dude I was on my hustle I was not where I am today I in a different place financially today than I was 12 or 13 years ago We were just coming out of a big contraction 423 00:27:02,511 --> 00:27:05,991 I'm like, bro, this is not the time to be picky about how they pay you. 424 00:27:06,911 --> 00:27:10,391 And we took it, dude. It was a $16 million payday and I didn't know it. 425 00:27:11,631 --> 00:27:17,431 And I still have that Bitcoin today. And that's how I got orange peeled because somebody gave it 426 00:27:17,431 --> 00:27:22,491 to me. It was a gift basically, you know, that I didn't say no to and I didn't sell. 427 00:27:23,831 --> 00:27:29,291 And, and, and then I started watching it. My awareness, my awareness, like, like Tesla, 428 00:27:29,731 --> 00:27:37,511 nobody told me about Tesla. There was no Tesla standard. There was no white paper on Tesla. 429 00:27:37,711 --> 00:27:44,371 I didn't read a book about Tesla. Uh, I got into Tesla once and I'm like, God damn, this is amazing. 430 00:27:44,371 --> 00:27:46,751 I didn't know a car could go this fast. 431 00:27:47,591 --> 00:27:49,211 And that's what happened to me at Bitcoin. 432 00:27:49,351 --> 00:27:51,691 Basically, I wasn't educated about Bitcoin. 433 00:27:51,911 --> 00:27:53,571 I was provided with a taste. 434 00:27:54,551 --> 00:27:56,091 And then I started playing with it. 435 00:27:56,171 --> 00:27:57,331 I started looking at it. 436 00:27:57,451 --> 00:27:58,791 I'd watch it when it corrected. 437 00:27:59,911 --> 00:28:02,391 You know, I'd read stuff about it lightly. 438 00:28:03,411 --> 00:28:08,051 And then last year, I met with Mike Saylor. 439 00:28:09,731 --> 00:28:13,271 Mike was, yeah, starting to get a lot of traction 440 00:28:13,271 --> 00:28:21,491 with MSTR and he hadn't done the strike or the stripe yet. And I met with Michael, my brother 441 00:28:21,491 --> 00:28:26,111 introduced me to him and I'm like, Hey, Michael, how can I do what you do with, with, with real 442 00:28:26,111 --> 00:28:32,011 estate? And Michael's like, he knew me. I didn't know Michael knew me. He's like, man, you got a 443 00:28:32,011 --> 00:28:36,631 massive audience. Most importantly, you got a big audience and two as important as that you have 444 00:28:36,631 --> 00:28:42,851 trust with your audience. Okay. Three, you have a real product, real estate that people already 445 00:28:42,851 --> 00:28:49,331 believe in, they do not need to be orange peeled on real estate. He said, add Bitcoin to the 446 00:28:49,331 --> 00:28:53,131 purchase. And I'm like, okay, but how do I do that? He's like, you need a public entity 447 00:28:53,131 --> 00:28:59,571 and then repeat what I'm doing and just add the real estate. And I'm like, well, I don't have a 448 00:28:59,571 --> 00:29:02,611 public company. He's like, that's your fucking problem. That's exactly what he told me. That's 449 00:29:02,611 --> 00:29:07,531 your fucking problem. I'm telling you what to do. And that was late last year. By January, 450 00:29:07,531 --> 00:29:09,291 we had done our first fund. 451 00:29:09,871 --> 00:29:12,671 We bought a $72 million piece of real estate 452 00:29:12,671 --> 00:29:14,811 and added $15 million of Bitcoin. 453 00:29:15,071 --> 00:29:15,951 I wasn't public. 454 00:29:16,231 --> 00:29:19,471 I still don't have a public entity at this time. 455 00:29:20,671 --> 00:29:23,271 But I decided not to wait to figure that part out. 456 00:29:23,571 --> 00:29:25,431 I said, no, I called Michael. 457 00:29:25,571 --> 00:29:27,791 I said, Michael, I'm going to go put these entities together 458 00:29:27,791 --> 00:29:28,911 and not go public. 459 00:29:30,591 --> 00:29:32,931 And I'm going to do it. 460 00:29:32,991 --> 00:29:34,451 I'm going to do the proof of concept. 461 00:29:35,551 --> 00:29:37,231 I'm going to validate the marketplace. 462 00:29:37,531 --> 00:29:41,071 I'm going to put 12 of these funds together and then I'm going to go public. 463 00:29:41,191 --> 00:29:42,551 He's like, okay, whatever, man. 464 00:29:43,231 --> 00:29:45,911 Just, you know, don't be a pussy. 465 00:29:46,271 --> 00:29:47,091 That's what he told me. 466 00:29:49,651 --> 00:29:53,651 And so we put our first deal together in January. 467 00:29:53,651 --> 00:29:57,351 It was $72 million of real estate, $15 million of Bitcoin. 468 00:29:57,591 --> 00:29:58,771 We paid cash for both. 469 00:29:59,791 --> 00:30:04,051 So I bought the real estate, paid cash, bought the Bitcoin, paid cash, no leverage. 470 00:30:04,051 --> 00:30:09,991 put the two together in an LLC, called it the Melbourne Project. 471 00:30:11,931 --> 00:30:14,971 I paid for it and then I funded it for my audience. 472 00:30:15,111 --> 00:30:16,211 We raised $88 million. 473 00:30:17,811 --> 00:30:25,051 That asset today is probably worth our NOI is up about 6% and the Bitcoin's up about 25%. 474 00:30:25,051 --> 00:30:31,411 So the two together is probably up in January, September. 475 00:30:31,411 --> 00:30:39,171 the real estate and the Bitcoin are probably up 20% this year already. And I own both of them, 476 00:30:39,171 --> 00:30:44,291 not one of them. I have cashflow. I have depreciation on the asset. I have $30 million 477 00:30:44,291 --> 00:30:49,291 depreciation. Nobody gets that on Bitcoin. Nobody in the world can buy Bitcoin and get a write-off. 478 00:30:49,411 --> 00:30:54,911 I do. Okay. We have cashflow. You don't get real cashflow. You can call it yield if you want, 479 00:30:54,911 --> 00:31:02,091 but it's not. I'm talking about cash flow yield. We're paying $360,000 a month to own Bitcoin and 480 00:31:02,091 --> 00:31:09,731 the real estate. We get the increased rents over time. These are $1,800 rents that we think will 481 00:31:09,731 --> 00:31:18,391 be $3,000 rents in the next decade. Also, I have a utility that you cannot say is not a real utility. 482 00:31:18,391 --> 00:31:24,751 people live in that asset. They live there. By the way, this is not an easily 483 00:31:24,751 --> 00:31:33,691 duplicatable asset. Real estate is very difficult to build. It's becoming more and more difficult. 484 00:31:33,911 --> 00:31:40,291 It's becoming more and more unaffordable. It's got a massive moat around it. Does it have problems? 485 00:31:40,291 --> 00:31:45,771 Yes, it does. But it's got a massive moat. Great real estate in a great location is one of a kind. 486 00:31:45,771 --> 00:31:50,191 So the same argument for Bitcoin that there's only 20, what is there? 487 00:31:50,291 --> 00:31:51,631 21 million pieces? 488 00:31:53,611 --> 00:31:54,351 21 million. 489 00:31:54,651 --> 00:31:54,831 Yeah. 490 00:31:54,911 --> 00:31:59,831 That one deal in Melbourne, there is no other project in that location. 491 00:32:00,611 --> 00:32:02,631 There will only be one in that location. 492 00:32:02,751 --> 00:32:07,671 If the location's sick, if it's a ridiculous location, it's probably more rare. 493 00:32:08,211 --> 00:32:09,811 And I'm not saying that location is. 494 00:32:10,271 --> 00:32:12,971 Let's talk about the latest $335 million deal. 495 00:32:12,971 --> 00:32:15,751 That deal, that deal, that location is irreplaceable. 496 00:32:15,771 --> 00:32:21,991 planner, one of the best locations. It's a top 20 locations in the United States and maybe the 497 00:32:21,991 --> 00:32:26,671 planet right now. How did that come together? That deal was a deal I've been shopping for 20 498 00:32:26,671 --> 00:32:31,771 months. Before we were doing the Bitcoin deals, I was shopping this deal. I knew the deal was in 499 00:32:31,771 --> 00:32:38,331 trouble. We've done 12 of these Bitcoin funds this year now. And this is the current deal we're on. 500 00:32:38,411 --> 00:32:45,751 It's called the Boca Raton Bitcoin Fund. This is a $230 million transaction. We paid cash, 501 00:32:45,771 --> 00:32:50,811 for it and took it out of bankruptcy from Blackstone. Blackstone was the dead on the deal. 502 00:32:51,451 --> 00:32:56,971 And we knew the guy was behind. And we also knew that Blackstone couldn't buy it because they're 503 00:32:56,971 --> 00:33:02,651 the debt. Blackstone wanted to buy it. They wanted to tap the guy out and they were hoping a guy like 504 00:33:02,651 --> 00:33:10,011 me wouldn't show up, but they can't squeeze a guy out of their own debt. So I put together what's 505 00:33:10,011 --> 00:33:16,971 what's called the stalking horse, went to the bankruptcy court and said, I'm offering $228 506 00:33:16,971 --> 00:33:23,451 million for the project. I'm writing a check for $20 million right now. And I will close 10 days 507 00:33:23,451 --> 00:33:29,491 later with all cash once you award me this project. The stalking horse is a unique way to 508 00:33:29,491 --> 00:33:38,611 create a market around something in trouble. This is a distressed seller on a perfect asset, 509 00:33:38,611 --> 00:33:47,391 not a distressed asset. Okay. And so the stocking horse that we wrote up, it's a bit of a complicated 510 00:33:47,391 --> 00:33:57,011 financial structure, but it said in the agreement to the bankruptcy courts, anyone that wanted to 511 00:33:57,011 --> 00:34:05,411 replace my stocking horse had to match my offer, close in 10 days, put up 20 million. 512 00:34:05,411 --> 00:34:11,691 and I had first right of refusal to top their bid. 513 00:34:12,691 --> 00:34:14,411 And in addition to their offer, 514 00:34:14,511 --> 00:34:16,891 they had to pay another $2.5 million. 515 00:34:17,211 --> 00:34:19,671 Every increment above me had to be $2.5 million 516 00:34:19,671 --> 00:34:22,550 and I had a breakup fee of $2.5 million. 517 00:34:23,311 --> 00:34:26,391 That meant they would have to get $5 million above me 518 00:34:26,391 --> 00:34:29,271 in order for me to lose the deal. 519 00:34:29,871 --> 00:34:31,791 So we basically squeezed the market out. 520 00:34:32,311 --> 00:34:33,451 Even people that are a lot, 521 00:34:33,451 --> 00:34:40,911 like I'm competing on deals with the biggest companies in the world, the Blackstones and 522 00:34:40,911 --> 00:34:47,151 whatever. All these guys have trillions of dollars. But what they don't have is they don't 523 00:34:47,151 --> 00:34:54,871 have one guy in charge. I'm a one man wrecking ball. I can move a lot faster. I'm doing one deal. 524 00:34:55,011 --> 00:35:00,050 They're doing a thousand deals. They have a board. They have investors, blah, blah, blah. 525 00:35:00,050 --> 00:35:15,871 So anyway, we got the deal. We got the deal. We paid $230 million for it. I had to go from $228 to $235 was the final deal. I think we paid $235. And then I stacked $100 million of Bitcoin on top of that. 526 00:35:15,871 --> 00:35:33,151 So the deal wasn't $235,000. The deal's really $335,000, which is quite insane in a marketplace where people are trying to pay less for real estate and they're trying to raise less money, not more money. 527 00:35:33,531 --> 00:35:38,671 I'm actually going the other way to create a big moat around this new company that I'm creating. 528 00:35:40,051 --> 00:35:43,991 And for your viewer that may not know, real estate's in a lot of trouble in this country. 529 00:35:43,991 --> 00:35:57,611 There's trillions of dollars of real estate that's in trouble, which is attached to real companies and institutions and pension funds and some big ass companies. 530 00:35:58,931 --> 00:36:02,451 So there's two groups of people in trouble in this country in real estate. 531 00:36:02,591 --> 00:36:09,011 The small REITs, under a billion and a half, all of them are in trouble. 532 00:36:09,851 --> 00:36:12,431 And no offense if you're a REIT and you're listening to this. 533 00:36:12,431 --> 00:36:17,151 if you're not in trouble, good for you, but you know the rest of your friends are. 534 00:36:17,291 --> 00:36:19,031 They're all in trouble because they're too small. 535 00:36:19,871 --> 00:36:22,151 And they're forced to distribute all their cash. 536 00:36:22,751 --> 00:36:25,151 They have to distribute 95% of their cash, 537 00:36:25,351 --> 00:36:28,011 which means they can't reinvest in their companies. 538 00:36:28,671 --> 00:36:31,991 And they can never put Bitcoin in their balance sheet. 539 00:36:33,151 --> 00:36:36,011 Then there's a bunch of giant ass companies out there. 540 00:36:36,231 --> 00:36:38,071 I'm 5 billion. I'm not a big company. 541 00:36:38,071 --> 00:36:40,151 These are monster companies. 542 00:36:40,151 --> 00:36:46,211 80,000 units, 100,000, 140,000 units. 543 00:36:46,431 --> 00:36:52,831 Then there's the monster monsters, 140,000 apartments, 25,000 hotels, 544 00:36:53,811 --> 00:36:59,731 400 million square feet of office buildings, airports. 545 00:36:59,731 --> 00:37:01,931 Like they got so many freaking issues. 546 00:37:02,111 --> 00:37:07,031 Industrial, like they got, they're sitting with hundreds of billions of dollars of problems. 547 00:37:07,031 --> 00:37:09,251 and these big companies. 548 00:37:09,971 --> 00:37:11,351 And this is not talked about. 549 00:37:11,471 --> 00:37:12,591 Nobody's talking about this. 550 00:37:12,691 --> 00:37:15,451 I don't know how they're covering this whole thing up. 551 00:37:16,291 --> 00:37:17,531 You're a great listener, by the way. 552 00:37:17,631 --> 00:37:18,571 I know, you know. 553 00:37:19,471 --> 00:37:20,551 I'm enjoying this immensely. 554 00:37:21,891 --> 00:37:26,311 In 2008, Suzy Q, the prostitute or the stripper 555 00:37:26,311 --> 00:37:30,591 or the pizza delivery girl was buying three and four houses. 556 00:37:32,051 --> 00:37:36,471 In 2020, it was, I'm just going to make up some names. 557 00:37:37,031 --> 00:37:43,191 It was Blue Rock and Star Dude. 558 00:37:43,891 --> 00:37:47,571 And they're out buying, they weren't buying four and five units, dude. 559 00:37:47,611 --> 00:37:49,151 They were buying 40,000. 560 00:37:50,371 --> 00:37:50,591 Okay. 561 00:37:50,651 --> 00:37:56,251 It wasn't the pizza guy buying two extra units and not qualifying his income. 562 00:37:57,171 --> 00:38:03,091 These guys were buying 10,000 units in 2020 on adjustable money. 563 00:38:03,691 --> 00:38:05,271 That was due in three years. 564 00:38:05,271 --> 00:38:12,291 and they would do that in Florida, 10,000 units, 10,000 in Georgia, 10,000 in Texas, 565 00:38:12,971 --> 00:38:17,231 10,000 in the Carolinas, dude. Like this was, and nobody's talking about there's, 566 00:38:17,951 --> 00:38:21,451 and that's what we're buying today. We buy all that stuff, dude. We're buying, 567 00:38:21,451 --> 00:38:28,751 we're stealing real estate right now. So, so the, the, the play is if, if the real estate is worth, 568 00:38:28,751 --> 00:38:35,251 you know, this, I'm trying to buy it down to the coffee cup handle. I'm trying to buy 569 00:38:35,251 --> 00:38:40,811 it below replacement costs. If it costs this much to build it, whatever I can buy below that line, 570 00:38:40,891 --> 00:38:47,811 I'm going to fill it up with Bitcoin. Okay. And none of these companies, Starwood, MetLife, 571 00:38:48,091 --> 00:38:53,091 New York Life, these are monster real estate companies. They cannot put Bitcoin on their 572 00:38:53,091 --> 00:38:58,611 balance sheet and they will never be able to put Bitcoin. I don't care how much they talk about it 573 00:38:58,611 --> 00:39:04,411 or want to do it. There's 190 REITs in America. That many of them could put Bitcoin on their 574 00:39:04,411 --> 00:39:12,391 balance sheet. One Bitcoin. Forget $100 million of it. So we want to exploit that problem. And by 575 00:39:12,391 --> 00:39:19,671 putting the two together, we think we could disrupt an old legacy business that hasn't 576 00:39:19,671 --> 00:39:23,991 changed much in almost 70 years. Yeah. At one point you tweeted, 577 00:39:24,631 --> 00:39:28,791 Bitcoin Maxie said, Grant, you should sell all your real estate and buy Bitcoin. 578 00:39:29,391 --> 00:39:33,871 Grant said, Maxie, why not use my real estate to buy Bitcoin and keep both? 579 00:39:34,411 --> 00:39:44,631 Combining real estate with Bitcoin gives you massive write-offs, real cash flow, rent growth, liquidity, good leverage, hedge against Bitcoin, and appreciation from both. 580 00:39:45,211 --> 00:39:50,531 So it seems like you're bullish on rents and rent growth. 581 00:39:50,751 --> 00:39:57,031 Yeah, look, I was in a room on Spaces last night and a guy said to me, he's like, you know, Grant, you're still better off owning the Bitcoin only. 582 00:39:57,531 --> 00:39:59,291 I'm like, no, you are. 583 00:39:59,411 --> 00:40:00,731 That's what you believe, bro. 584 00:40:00,731 --> 00:40:04,111 because you believe, and some of you guys believe, 585 00:40:04,271 --> 00:40:07,551 not you, but some Bitcoiners just believe 586 00:40:07,551 --> 00:40:09,911 that you're going to be the only product on the planet. 587 00:40:11,011 --> 00:40:13,611 And if you believe that Bitcoin's going to become 588 00:40:13,611 --> 00:40:31,366 a trillion only currency asset class in the world then you right and I wrong I just don believe that And if that happens it going to be a bit And even if you do believe that where are people going to live 589 00:40:31,906 --> 00:40:38,206 Because I can't live in my Coinbase account. So I still need a place to live, whether I rent it or 590 00:40:38,206 --> 00:40:44,606 own it, whether it's one bedroom, two bedrooms or a castle, it could be a hotel, it could be on a 591 00:40:44,606 --> 00:40:45,926 Camping trip, it could be an RV. 592 00:40:46,046 --> 00:40:47,726 I still need a place to sleep at night. 593 00:40:48,406 --> 00:40:51,086 And I do believe rents are going to explode. 594 00:40:51,406 --> 00:40:52,786 I believe they're going to explode. 595 00:40:53,106 --> 00:40:54,586 Like we're going to see rents double. 596 00:40:54,586 --> 00:40:57,306 We're at about $1,800 a month rents today. 597 00:40:58,186 --> 00:41:02,366 I think we see easy $4,000 rents by the year 2035. 598 00:41:03,386 --> 00:41:05,586 What will Bitcoin be in 2035? 599 00:41:06,046 --> 00:41:07,106 Will it be a million dollars? 600 00:41:09,006 --> 00:41:12,546 Yeah, I think that could happen by 30, right? 601 00:41:12,546 --> 00:41:15,606 Let's say Bitcoin's at $3 million in 35. 602 00:41:16,206 --> 00:41:16,686 Could be. 603 00:41:17,886 --> 00:41:18,466 Okay, good. 604 00:41:18,586 --> 00:41:22,086 So I got $3 million Bitcoin and I got $4,000 rents. 605 00:41:22,986 --> 00:41:25,586 Every time I move the rents on my portfolio, 606 00:41:25,806 --> 00:41:31,146 if I never grow my portfolio another dollar, okay? 607 00:41:31,206 --> 00:41:33,306 Every time I grow it, 25 bucks. 608 00:41:33,306 --> 00:41:42,086 Every time the rents go $25 times 14,200 units times 12. 609 00:41:42,546 --> 00:41:45,926 divided by .05. 610 00:41:47,026 --> 00:41:48,266 Every time I do that, 611 00:41:48,366 --> 00:41:50,646 I increase the value of that portfolio $85 million. 612 00:41:50,966 --> 00:41:52,646 That's for every 25 bucks. 613 00:41:53,446 --> 00:41:56,246 If the rents go up a thousand bucks, 614 00:41:56,406 --> 00:41:57,506 that's 40 times. 615 00:41:58,146 --> 00:42:00,646 I made $3 billion on a real estate portfolio. 616 00:42:01,006 --> 00:42:01,446 So like, 617 00:42:01,606 --> 00:42:04,846 I don't know how I end up being bad, 618 00:42:05,086 --> 00:42:08,786 how it's terrible to have Bitcoin go to 3 million 619 00:42:08,786 --> 00:42:10,866 and I own some of it 620 00:42:10,866 --> 00:42:15,106 and I made $3 billion on a real estate portfolio because the rents went up. 621 00:42:15,666 --> 00:42:18,506 And by the way, if Bitcoin goes to $3 million, fucking rents are going up. 622 00:42:19,446 --> 00:42:21,386 Okay, Bitcoin is not a deflationary. 623 00:42:21,886 --> 00:42:26,046 In my view, if Bitcoin goes to $3 million, 624 00:42:26,626 --> 00:42:29,166 these people will have money. 625 00:42:29,286 --> 00:42:31,706 Many of these people will have money for the first time in their lives. 626 00:42:33,626 --> 00:42:36,846 Most of the people that are going to end up being Bitcoin billionaires 627 00:42:36,846 --> 00:42:39,706 were not fiat billionaires. 628 00:42:40,866 --> 00:42:45,386 You know, so you let me you think you're going to give all your money away. 629 00:42:45,386 --> 00:42:52,766 But on the way to the charity, you're probably going to buy a yacht, a bunch of cars, big ass houses you don't need. 630 00:42:53,326 --> 00:42:56,926 And who knows? Some of you are going to start acting like Charlie Sheen. 631 00:42:57,886 --> 00:43:02,226 We'll see. See how it plays out. What would be your advice to young people? 632 00:43:02,346 --> 00:43:04,486 Should they diversify or go all in on something? 633 00:43:05,006 --> 00:43:07,746 Well, I would say the young people, depending on where they're at in the. 634 00:43:07,746 --> 00:43:11,146 the acquisition for whatever it is they want, right? 635 00:43:11,966 --> 00:43:15,206 I would say the first thing to do is go all in on yourself 636 00:43:15,206 --> 00:43:21,806 and find that cassette tape that gets you good at something. 637 00:43:23,686 --> 00:43:27,566 And, you know, back to that cassette tape story I told you, 638 00:43:27,906 --> 00:43:29,266 that cassette tape was free, 639 00:43:30,166 --> 00:43:32,546 and most people would have been satisfied with that. 640 00:43:33,106 --> 00:43:34,066 But I wasn't. 641 00:43:34,646 --> 00:43:37,566 There was an 800 number on that tape, and I called that 800 number. 642 00:43:37,566 --> 00:43:41,566 I said, Hey, what else you guys got? Cause I need more than one word that works. 643 00:43:42,866 --> 00:43:50,186 And I bought a set of tapes from those guys. It was $12,000. This is 1990 something. 644 00:43:52,026 --> 00:43:57,666 And I paid the money, bro. I borrowed the money from my mom. And you know, I don't even know how 645 00:43:57,666 --> 00:44:03,326 many times I've been paid on that. Like I've, because I kept improving myself. And so most 646 00:44:03,326 --> 00:44:07,006 people would be happy with the one word I wasn't. So I would tell the young guy out there, look, 647 00:44:07,006 --> 00:44:10,586 don't worry about getting rich. You shouldn't even worry about investments right now. Invest 648 00:44:10,586 --> 00:44:15,246 only in your own self, just yourself. Just keep pouring money into yourself and your own education. 649 00:44:16,006 --> 00:44:19,806 And then once you start getting surplus money, if there's surplus money now, 650 00:44:20,446 --> 00:44:28,326 okay, what am I going to bet everything on? And I would tell you, bet everything on one thing. 651 00:44:28,386 --> 00:44:35,626 I would not diversify. I would not find five coins to bet on. If you believe in a coin, 652 00:44:35,626 --> 00:44:41,426 put every penny you have on one coin. If you're not sure, it's because you're gambling. 653 00:44:42,486 --> 00:44:47,766 And I'm not going to gamble. I mean, I can count on one hand the number of times I've lost money 654 00:44:47,766 --> 00:44:54,526 in my business, in my career, but I don't gamble. And you know, our space metric is filled with 655 00:44:54,526 --> 00:45:02,206 degenerates. It's get rich quick. People don't want to buy Bitcoin at 116 because they think 656 00:45:02,206 --> 00:45:06,226 They missed it. Well, you did miss it. And you're going to miss the next part of it, too. 657 00:45:07,626 --> 00:45:13,506 I used to buy real estate for twenty five thousand dollars a units. Now I'm paying four hundred thousand, five hundred thousand a unit. 658 00:45:15,066 --> 00:45:23,446 So inflation, bro. And so, yeah, I would go all in on one thing. 659 00:45:23,546 --> 00:45:26,106 I would find one thing and repeat it over and over and over again. 660 00:45:26,106 --> 00:45:33,266 And then once you get that one thing to where it's scaled out and you got real scale, then figure out something you can add to the one thing. 661 00:45:34,746 --> 00:45:37,026 Like I'm adding Bitcoin to my real estate. 662 00:45:37,226 --> 00:45:38,546 I didn't get rid of my real estate. 663 00:45:38,546 --> 00:45:51,106 I'm like, let me add Bitcoin to the real estate and see if I can make it a more effective investment vehicle. 664 00:45:51,106 --> 00:45:56,786 and then I don't look for another 16 things to do. 665 00:45:56,886 --> 00:45:58,866 I'm looking for what, I'm not adding Ethereum. 666 00:45:59,086 --> 00:46:00,086 I'm not adding Ripple. 667 00:46:00,246 --> 00:46:01,546 Sorry, guys, I'm not doing it. 668 00:46:01,966 --> 00:46:03,966 It's not, I just don't have the bandwidth 669 00:46:03,966 --> 00:46:06,526 to figure out how to even pitch the story. 670 00:46:07,626 --> 00:46:08,666 Am I gonna miss something? 671 00:46:08,826 --> 00:46:10,346 Yeah, I'm gonna miss a bunch of shit. 672 00:46:11,386 --> 00:46:12,986 I'm gonna miss a bunch of stuff. 673 00:46:13,046 --> 00:46:14,226 I'm not gonna be a movie star. 674 00:46:14,526 --> 00:46:16,066 I'm not gonna be a ball player. 675 00:46:16,626 --> 00:46:18,726 I'm not gonna be a politician. 676 00:46:21,106 --> 00:46:25,946 you're going to find one or two things you're good at, double down on them, then 10X it. 677 00:46:26,626 --> 00:46:29,086 And then when you're done 10X in that, 10X that again. 678 00:46:29,526 --> 00:46:30,746 Wow, Grant, this has been so dope. 679 00:46:30,866 --> 00:46:34,686 My final question for you, has Bitcoin changed you in any way? 680 00:46:35,286 --> 00:46:39,946 Yeah, I think it's changed, you know, once it really bites you. 681 00:46:40,486 --> 00:46:44,346 Look, if you're a real estate investor already, you already know money's worthless. 682 00:46:45,586 --> 00:46:47,746 Real estate investors have always done that. 683 00:46:48,686 --> 00:46:51,366 You know, I've been buying real estate since I was 28 years old. 684 00:46:51,806 --> 00:46:54,266 Every real estate guy I ever met, they're always broke. 685 00:46:55,426 --> 00:46:57,946 They're real estate rich and they're cash poor. 686 00:46:58,346 --> 00:47:01,686 But every six or seven years, they have these events that are good for them. 687 00:47:02,106 --> 00:47:05,866 Now, the people that don't last in real estate are the ones that over leverage, overpaid, 688 00:47:06,066 --> 00:47:08,926 mistimed it and bust out of the cycle and they don't do it again. 689 00:47:08,926 --> 00:47:16,346 But the guys that made it, Sam Zell, Don Brin, Fred Trump, Donald's dad, you know, these 690 00:47:16,346 --> 00:47:17,686 This guy's created fortunes. 691 00:47:17,846 --> 00:47:17,946 Okay. 692 00:47:18,006 --> 00:47:18,746 Louis Vuitton. 693 00:47:18,946 --> 00:47:19,626 What's his name? 694 00:47:19,686 --> 00:47:20,026 Bernard. 695 00:47:20,226 --> 00:47:21,586 That guy's a real estate guy. 696 00:47:22,046 --> 00:47:23,486 That guy is not a fashion guy. 697 00:47:24,026 --> 00:47:25,266 It's a fucking real estate play. 698 00:47:26,526 --> 00:47:28,246 And long periods of time. 699 00:47:28,366 --> 00:47:29,086 The Vatican. 700 00:47:29,206 --> 00:47:31,166 The Vatican owns more real estate on planet Earth. 701 00:47:31,226 --> 00:47:32,026 The Mormon church. 702 00:47:32,266 --> 00:47:33,466 Big real estate owners. 703 00:47:34,626 --> 00:47:34,846 Okay. 704 00:47:34,846 --> 00:47:36,126 So why? 705 00:47:36,286 --> 00:47:37,906 Because they know money's no good. 706 00:47:38,566 --> 00:47:38,746 Okay. 707 00:47:39,026 --> 00:47:41,106 And then once that hits you with Bitcoin. 708 00:47:41,426 --> 00:47:42,866 I mean, that's already hit you, right? 709 00:47:43,646 --> 00:47:45,226 The beautiful thing about the Bitcoin. 710 00:47:46,346 --> 00:47:57,886 no plumbing, no termites, no tenants, no evictions, no property taxes yet, no paint, 711 00:47:58,146 --> 00:48:05,606 no roofs, no HVAC. I mean, Brian is like sweet. So to the Bitcoin maximalists that said, Grant, 712 00:48:05,606 --> 00:48:09,926 you should get rid of all your real estate. I'm like, okay, you really think I should throw away 713 00:48:09,926 --> 00:48:16,086 a $5 billion company? Because, and this is the last thing I would say to you about that, 714 00:48:16,086 --> 00:48:20,086 is that if I tried to take just Bitcoin public, I couldn't. 715 00:48:21,146 --> 00:48:22,526 Hey guys, I bought a bunch of Bitcoin. 716 00:48:22,646 --> 00:48:23,566 You want to go public with me? 717 00:48:23,626 --> 00:48:24,666 Why would anybody do that? 718 00:48:25,126 --> 00:48:28,146 Even though some people have actually figured out 719 00:48:28,146 --> 00:48:29,726 how to do that shit, okay? 720 00:48:30,006 --> 00:48:32,126 I'm going to take this real estate company, Cedric. 721 00:48:32,446 --> 00:48:34,406 This year, we should take it public this year, 722 00:48:34,486 --> 00:48:35,886 maybe January at the latest. 723 00:48:36,566 --> 00:48:38,586 We'll take all the real estate that I have. 724 00:48:38,986 --> 00:48:40,986 We're going to add a bunch of Bitcoin to that balance sheet 725 00:48:40,986 --> 00:48:42,566 and bring it to the public markets 726 00:48:42,566 --> 00:48:44,546 and become a publicly traded company 727 00:48:44,546 --> 00:48:49,886 where people can have the best of two asset classes that are merged together and can't be 728 00:48:49,886 --> 00:48:56,186 pulled apart. And in a future, I mean, this is how Bitcoin's changed me. It's changed me thinking 729 00:48:56,186 --> 00:49:00,386 about, oh, wow, one day I'm not going to have a 10-year, I'm not going to have a 10-year 730 00:49:00,386 --> 00:49:06,026 mortgage on my real estate. It's going to be a 30-year mortgage on my real estate and my Bitcoin. 731 00:49:07,106 --> 00:49:13,186 And that means that piece of real estate will always have instant liquidity. And no real estate 732 00:49:13,186 --> 00:49:18,266 on planet Earth has instant liquidity today. So we're going to merge these two. We're going to 733 00:49:18,266 --> 00:49:25,046 evolve these two beasts. One's liquid, one's not. One cash flows, one doesn't. One, you get tax 734 00:49:25,046 --> 00:49:29,606 write-offs, the other one, you don't. Both of them are going to appreciate as money gets printed. 735 00:49:30,226 --> 00:49:36,446 But one's real, one's digital. You can't touch it. One has a utility and the other one doesn't. 736 00:49:36,886 --> 00:49:41,346 And I think when we bring those to the public marketplace, we're going to create a new animal. 737 00:49:41,346 --> 00:49:50,426 So Bitcoin's changed me and put me in a situation where I can offer something to the public now that will scale beyond just the real estate portfolio. 738 00:49:51,126 --> 00:49:53,066 I can't wait to see where this goes. 739 00:49:53,166 --> 00:49:53,986 I'll have to have you back. 740 00:49:54,126 --> 00:49:57,486 There's so many places we could take this, but this has been so dope. 741 00:49:57,926 --> 00:50:00,886 I'll leave it to you for any parting words and let people know where they can find you and your work. 742 00:50:01,046 --> 00:50:03,326 No, dude, look, I know how hard it is to put these together. 743 00:50:03,426 --> 00:50:07,426 So I really admire the fact that you can sit there and just let somebody run their mouth the whole time. 744 00:50:07,426 --> 00:50:11,726 So thanks for letting me, you know, just, you know, being interested in what I'm doing. 745 00:50:12,666 --> 00:50:17,506 And to all the Bitcoiners out there, you guys have been so supportive of the projects that we're doing. 746 00:50:17,646 --> 00:50:23,426 And I've heard so many good things by so many people that are excited about us bringing people on. 747 00:50:23,646 --> 00:50:30,266 And everybody that's investing with us in the last since January this year, 80 percent. 748 00:50:30,366 --> 00:50:31,906 I think your audience will find this interesting. 749 00:50:32,126 --> 00:50:35,186 80 percent of those people own zero Bitcoin. 750 00:50:35,606 --> 00:50:36,466 They own no Bitcoin. 751 00:50:36,466 --> 00:50:38,246 They have not read the Bitcoin standard. 752 00:50:38,946 --> 00:50:40,246 They don't know what the white paper is. 753 00:50:40,686 --> 00:50:42,166 They don't know who Mike Saylor is. 754 00:50:43,586 --> 00:50:49,186 80% of every person, and we've raised hundreds of billions of dollars, millions of dollars 755 00:50:49,186 --> 00:50:54,586 this year, have invested in this real estate Bitcoin fund, and they don't know what Bitcoin 756 00:50:54,586 --> 00:50:54,906 is. 757 00:50:55,006 --> 00:50:56,926 They don't even know where I'm keeping it. 758 00:50:57,766 --> 00:51:01,486 They don't know whether it's going to go up or down, and they don't care. 759 00:51:01,486 --> 00:51:11,166 They like the real estate and the added feature of a kicker that, oh, maybe that Bitcoin thing's a lottery ticket. 760 00:51:12,326 --> 00:51:14,286 And I remember telling Mike Saylor this. 761 00:51:14,406 --> 00:51:21,006 I said, Mike, how many people do you really think are going to invest 100 hours to learn about Bitcoin? 762 00:51:21,866 --> 00:51:23,246 And he's like, what's your point? 763 00:51:23,646 --> 00:51:27,326 I said, 83% of everybody that buys a book doesn't finish the book. 764 00:51:27,326 --> 00:51:33,866 I said, if you think that everybody has to be educated to buy Bitcoin, this was before the ETFs. 765 00:51:34,586 --> 00:51:41,066 If you think that everybody has to be educated to buy anything, I mean, it's just not real, dude. 766 00:51:41,846 --> 00:51:44,526 I buy cars. I don't ever read their owner's manual. 767 00:51:45,366 --> 00:51:48,446 OK, I download movies. I have no clue what it's about. 768 00:51:48,866 --> 00:51:51,126 If the title is good, fuck it. I'm going to watch it. 769 00:51:51,986 --> 00:51:57,086 And when it doesn't keep my interest anymore, I'm going to throw it away and move on to the next thing. 770 00:51:57,086 --> 00:51:59,066 That's the consumer of the 21st century. 771 00:52:00,166 --> 00:52:04,086 And so I think that we've created a vehicle here in Bitcoin. 772 00:52:04,266 --> 00:52:07,106 The real estate allows me to do this because we have agreement. 773 00:52:08,326 --> 00:52:13,186 98% of population, or maybe 100, agrees with real estate. 774 00:52:13,726 --> 00:52:15,446 They're already convinced of it. 775 00:52:16,186 --> 00:52:18,786 I don't know what percentage own Bitcoin or know about it. 776 00:52:18,826 --> 00:52:20,066 What, 2%, 1%? 777 00:52:20,166 --> 00:52:20,986 Something like that, yeah. 778 00:52:21,106 --> 00:52:21,906 Tiny, tiny. 779 00:52:22,426 --> 00:52:23,866 The other people you're going to have to educate, 780 00:52:23,866 --> 00:52:26,706 or you just got to pull up in that Tesla. 781 00:52:27,086 --> 00:52:28,586 and say, get in. 782 00:52:29,326 --> 00:52:31,006 And when you get in, you look out the windshield 783 00:52:31,006 --> 00:52:32,386 and you're like, damn, that's a big windshield. 784 00:52:33,826 --> 00:52:36,186 And then you have the experience of the Bitcoin, 785 00:52:36,346 --> 00:52:39,886 in this case, without the education. 786 00:52:40,986 --> 00:52:43,046 And that's how I was orange-pilled, man. 787 00:52:43,166 --> 00:52:44,086 So that's all we're going to do. 788 00:52:44,266 --> 00:52:46,486 I think we're going to orange-pill a lot of people. 789 00:52:46,586 --> 00:52:47,546 We're going to bring a lot of people 790 00:52:47,546 --> 00:52:52,846 into the Bitcoin community that you guys can't convince 791 00:52:52,846 --> 00:52:55,846 because you're trying to educate somebody. 792 00:52:55,846 --> 00:52:59,426 And when they're being educated, they're not investors. 793 00:52:59,806 --> 00:53:00,366 They're students. 794 00:53:00,786 --> 00:53:02,066 Students don't invest. 795 00:53:02,706 --> 00:53:03,426 Students learn. 796 00:53:03,986 --> 00:53:04,786 You make great points. 797 00:53:04,886 --> 00:53:05,706 This has been awesome. 798 00:53:05,966 --> 00:53:07,026 Thank you so much, Grant. 799 00:53:07,146 --> 00:53:07,646 Thanks, man. 800 00:53:08,046 --> 00:53:08,666 Appreciate you. 801 00:53:08,946 --> 00:53:11,926 Thanks for tuning in to this episode of The Bitcoin Matrix. 802 00:53:12,386 --> 00:53:16,746 If you enjoyed the conversation, don't forget to like, subscribe, and drop a comment below 803 00:53:16,746 --> 00:53:18,526 with any questions or thoughts you may have. 804 00:53:18,766 --> 00:53:19,966 We'd love to hear from you. 805 00:53:20,306 --> 00:53:24,526 You can support the show by checking out our sponsors and affiliate links in the description. 806 00:53:24,526 --> 00:53:29,286 It helps keep bringing you great content while connecting you with awesome products that I believe in. 807 00:53:29,526 --> 00:53:33,306 Share this episodes with your friends, family, or anyone curious about Bitcoin. 808 00:53:33,726 --> 00:53:35,786 And let's keep growing this community together. 809 00:53:36,066 --> 00:53:39,586 Stay curious, keep stacking, and I'll catch you in the next one.