Real Estate Investment Firm Adds Bitcoin to Balance Sheets
Real Estate Investment Firm Adds Bitcoin to Balance Sheets
SAN ANTONIO - April 27, 2022 - (Newswire.com)
DJE Texas Management Group (DJE), a San Antonio-based Multifamily Real Estate Private Equity and Management firm, today announced that it has added Bitcoin to its operating company balance sheets and continues to grow its ownership of the asset with daily Bitcoin purchases.
DJE focuses on traditional real estate investments, having purchased over 5,000 units of multifamily in the past decade. The firm currently manages 2,125 units in San Antonio, and no changes are being made to the firm's current real estate investment thesis or management strategy.
As a means of strengthening its balance sheets, DJE has executed a dollar cost averaging strategy to purchase Bitcoin and add it to the treasury reserve of three of its companies. DJE Texas Management Group is the private equity division of the firm, DJE Properties is its Multifamily property management division, and The DJE Foundation is the firm's 501(c)(3) philanthropic arm.
All three entities are now systematically purchasing Bitcoin from free cash flows as a long-term savings plan. No changes have been made or will be made to investor capital deployed in DJE's traditional real estate investments in Multifamily, land, and real estate development projects.
Devin Elder, Founder and Principal of DJE, elaborates by saying, "Bitcoin has proven itself at this point, having surpassed all but five sovereign currencies in terms of U.S. dollar value. We are excited to "future proof" our operating companies and non-profit by adding Bitcoin to our treasury reserves. We are adding Bitcoin to our balance sheets daily from free cash flows and we're excited about Bitcoin as a mechanism for global freedom and inclusiveness."
DJE and its 55 employees continue to pursue and operate stable, proven real estate investment strategies in Central Texas on behalf of its more than 600 investor clients.
Press Release Service by Newswire.com
Original Source: Bitcoin Added to the Balance Sheet of Leading San Antonio Real Estate Investment Firm
