Grant Cardone's Bitcoin Investing Journey

Grant Cardone talks about how he got started investing in Bitcoin. Interviewed by Mario Nawfal at Benzinga's Future Of Digital Assets 2024 event.

Transcript

00:00You've invested in Bitcoin, it's been a long time, you know, the journey started a lot longer than many people would guess.

00:05Maybe tell us more about your journey into crypto, and where do you stand now in the industry?

00:10So I got a phone call, there was a group doing an event in Las Vegas, and they wanted to pay me in Bitcoin.

00:17And I think it went to Jared first, Jared's like, no, we, you know, here's our fee, and this is what it is.

00:22And then it went to somebody else in the company, no, no, we don't do that.

00:25And then I heard about it, I'm like, I'll take it, I'll take goats.

00:28I'll take like, whatever, like, I'm not working that day. Anyway, I'll go up there and do the deal, give it to me, right.

00:34So they gave me, I forget what, 100 pieces. And I didn't know what it was, I had no clue what it was.

00:41I still have them today. So it was about 500 bucks. I think it was trading for 500 bucks.

00:47And the fee was, my fee back then was 50 grand, and travel, and they took care of the travel.

00:53And I kept the Bitcoin. And, you know, it's best speaking gig I ever did.

00:57It was the best, I was the best, by the way, I was freaking brilliant that day.

01:01And, and, and so I still have that today. And again, and then I added some more along the way,

01:07added some at 30,000. And, you know, some other things that we're, we've done along the way, but

01:16I'm never selling any of that stuff. Like, I'm not looking for a place to get off.

01:22I just, it's another thing I'm trying to collect that, that hopefully I can pass on to somebody

01:27else. You believe in the store of value argument, you're bullish on it. Well, I really believe that

01:32there is no other store value, you know? So like, I don't have to convince myself of the store value.

01:39We were talking about this this morning on the way over here. I'm just convinced that cash is

01:43not a store of value. The cash is not king. That was a lie. Saving money is a ridiculous proposition.

01:50No one should do it. It's a loser's bet. There's no such way. It is an oxymoron.

01:56You cannot save money. It's impossible. It's no such thing as it.

02:04So what do I go into? I don't want gold. I have no interest in gold, never had any interest in

02:08gold. I'm 66 years old. No one has ever offered me gold or silver for a transaction ever. So I

02:14don't understand the whole gold thing. I'm going to keep it. I got to get, dig it up out of the

02:19ground. I got to put it back in the ground. I got to pay somebody to hold it, somebody to insure it.

02:26If I want to sell it, I have to get it transported, authenticated, like that's going to take a week.

02:33So I never understood the gold thing, the silver thing. Wall Street never understood it. Okay,

02:38if I buy a stock, I never buy enough. And if I buy enough, it goes down. So I'm trading paper

02:45for another piece of paper. I'm trading a piece of fiat, a U.S. currency that says,

02:49has God on the back of it, so you know it's bull. Because this isn't God we trust and I don't think

02:56God had anything to do with the U.S. dollar. And then I take the U.S. dollar and I convert it to

03:00another piece of paper that Apple distributed or whoever, whatever company. Most of these companies

03:05only last seven years. When I was growing up, they'd last 70 years. Now they're seven years.

03:11These AI companies, you're going to have 99 of them bust out for the one that makes it.

03:15And so how do I convert cash that they're going to continue to print? What handful of things can I

03:24convert a piece of fiat to that has a chance of being more valuable in the future?