Grant Cardone’s Cardone Capital increased its Bitcoin holdings during the market downturn, raising its position to about 2,700 BTC at an average purchase price of $59,000. At the time of writing, the company’s BTC stake was valued at roughly $159 million, according to a recent post by the founder on X.Â
However, no public filing independently confirms a holding of this size, but based on data from BitcoinTreasuries.net, the firm would rank 30th among corporate holders, just behind The Smarter Web Company plc.
The purchase occurred while Bitcoin traded near the lower end of its range. The asset has fallen 19.27% over the past thirty days and 31.96% year-to-date, a stretch that buyers such as Cardone treat as an opportunity to accumulate.
Cardone Capital buys as Strategy moves to sell
Cardone Capital’s accumulation runs against the move from Michael Saylor’s Strategy, the largest corporate Bitcoin holder with 847,363 BTC worth roughly $50 billion, which has restructured its treasury under a new capital framework.
The Digital Credit Capital Framework authorizes Strategy to sell up to $1.25 billion of Bitcoin, the company’s first formal plan to monetize its holding, with proceeds funding preferred dividends, interest payments, and repurchases of preferred securities and common stock. The same framework raised the dividend rate on its STRC preferred stock to 12%.
The shift follows Strategy’s first-ever Bitcoin sale on the 1st of June, a small disposal worth around $2.5 million that rattled the market less for its size than for breaking Saylor’s long-standing pledge never to sell. Bitcoin has struggled to reclaim higher ground since, trading around the $60,000 region.
The selling extends well beyond Strategy, with U.S. spot Bitcoin ETFs and retail holders driving the trend. According to SoSoValue, spot Bitcoin ETFs recorded roughly $4.06 billion in net outflows in June, the largest monthly redemption since the funds launched in January 2024, surpassing the previous record of $3.56 billion set in February 2025.
BlackRock’s IBIT accounted for the bulk of the exits, and the outflow leaves Bitcoin on track for a third consecutive quarterly loss after shedding 22% in the first half of the year.
Bollinger Bands point to a possible Bitcoin bottom
Despite the heavy selling and weak sentiment, chart analysis suggests Bitcoin may have found a bottom.
The signal comes from the Bollinger Bands on the weekly chart, where price has reached the lower band, the green line, a level that has repeatedly acted as support and preceded rebounds.
Bollinger Bands track volatility and relative price extremes through three lines: the upper band (red), the lower band (green), and the mid band (blue), with the mid band acting as either support or resistance depending on conditions.
Final Summary
- Cardone Capital kept buying Bitcoin through the downturn, even as Strategy cleared the way to sell up to $1.25 billion of its holdings.
- June saw the heaviest month of Bitcoin ETF withdrawals on record, with roughly $4 billion pulled out.
