Peter Schiff: Real estate market does not need Bitcoin

Noted cryptocurrency skeptic Peter Schiff has criticized a new Bitcoin-linked real estate investment product from U.S. real estate investor Grant Cardone, arguing that there is no need to introduce Bitcoin to the property market. Cardone recently launched the $87.5 million "10X Space Coast Bitcoin Fund," which is structured to use rental income to purchase additional Bitcoin. In response, Schiff stated that connecting real estate and Bitcoin solves no problems and that he disagrees with the claim that the asset class needs the cryptocurrency. Cardone had previously explained that the fund aims to supplement the limitations of traditional REITs and targets a 22-32% return for investors.