Billionaire Grant Cardone Buys 2,000 BTC for $92,000, Refuses to Sell Despite Losses
Billionaire Grant Cardone publicly stated that he bought 2,000 bitcoins for $92,000 and refuses to sell despite currently being in a loss.
Cardone claims this does not bother him at all; if he believed bitcoin would go to zero, he would not have bought it in the first place, demonstrating a long-term holding strategy.
As a high-net-worth investor, Cardone's firm position provides long-term support signals for bitcoin, refusing to cash out at the current price range. The capital flow tends to favor institutions and wealthy individuals who are optimistic about long-term value rather than short-term traders. Holders of bitcoin as a reserve asset are the main beneficiaries, while short-term speculators continue to face pressure.
Source: Public Information
ABAB AI Insight
Grant Cardone, a well-known billionaire real estate investor, has long publicly promoted bitcoin, previously viewing BTC as an asset to combat inflation and currency devaluation. This statement continues his consistent "buy and hold for the long term" philosophy, highly similar to MicroStrategy's Saylor strategy.
In terms of capital strategy, Cardone has built a substantial position using relatively early low-cost entries (averaging about $46/BTC) and by refusing to sell, he locks in a long-term exposure. His strategic motive is to treat bitcoin as a core reserve in his personal asset portfolio rather than a trading target, similar to his leveraged long-term holding model in real estate.
This behavior mirrors that of several companies and billionaires during the 2022-2023 bear market, who added to their positions at lows and refused to cut losses. The current bitcoin market is in a transitional phase between institutional/high-net-worth holders and short-term capital.
Essentially, this represents capital concentration: the pricing power of bitcoin is shifting from short-term traders to wealthy long-term holders, as steadfast holders with low-cost positions refuse to sell even when at a loss, reducing selling pressure and concentrating capital among a few participants with conviction and holding capacity.
ABAB News · Cognitive Law
Low-cost positions provide confidence; losses are noise; true holders never change their original intentions due to short-term fluctuations. If you don't believe it will go to zero, you should never sell; conviction determines the ultimate wealth outcome more than price. The rich sell structures, the poor sell in panic; the victory of long-term assets always belongs to those who can withstand losses.