Hybrid Real Estate + Bitcoin
Project Satoshi is a new kind of investment vehicle — one that harnesses the predictability of U.S. institutional real estate to unlock strategic exposure to Bitcoin.
The most defensive real estate in the world — AAA U.S. retail properties — collateralized to invest in the best-performing asset of the last decade: Bitcoin.
Investment Thesis
Separately, each asset has clear limitations. Together, inside an institutional vehicle, they create something neither can achieve alone.
AAA U.S. Retail Real Estate — freestanding properties leased to national blue-chip tenants under absolute triple-net agreements. Pharmacies, quick-service restaurants, banks, convenience stores.
These are bond-like cash flows: long-term contracts denominated in dollars, with contractual rent escalators indexed to inflation. The landlord has zero operational responsibilities — the tenant covers taxes, insurance, and maintenance.
One of the most resilient real estate sectors globally, supported by necessity-based consumption, deep capital markets, and a liquid exit landscape.
Bitcoin — the best-performing asset of the last decade with accelerating institutional adoption through ETFs, corporate treasuries, and sovereign allocations.
By financing the real estate with non-recourse debt, the structure frees capital for strategic BTC exposure through regulated institutional channels. The property generates cash flows that service the debt, while Bitcoin provides the vehicle's exponential upside potential.
A capped supply of 21 million coins, a Stock-to-Flow ratio exceeding gold's, and a market that has grown 183× in capitalization over the last decade.
How It Works
A straightforward institutional structure that transforms a defensive asset into amplified, asymmetric exposure.
Purchase an institutional-grade, necessity-based U.S. retail property under a long-term absolute NNN lease with a blue-chip national tenant — generating predictable, inflation-protected dollar cash flows.
Finance the property with non-recourse debt secured only by the asset itself. The tenant's cash flows service the loan — freeing a significant portion of capital without adding personal risk to investors.
Allocate the freed capital to Bitcoin through regulated ETFs and institutional custodians — capturing the upside of a scarce, high-growth digital asset while real estate anchors the portfolio's foundation.
Capital Preservation
This is the structural asymmetry at the core of the thesis. The real estate isn't just a balance sheet item — it's your floor. Dollar-denominated, inflation-indexed, and generating income regardless of what Bitcoin does.
The upside is uncapped, but the downside is anchored to a hard, income-producing asset in the most liquid real estate market in the world.
BTC: 21M cap forever. RE: irreplaceable land.
BTC scarcity + rents indexed to rising costs.
Two stores of value across different cycles.
Predictable income stream anchors everything.
The Advantage
AAA leases enable institutional financing that amplifies Bitcoin exposure — impossible without a bankable real estate asset in the structure.
Institutional-grade U.S. retail properties typically require significant capital. The fund structure provides efficient access within a single allocation.
Direct Bitcoin exposure can swing dramatically with no anchor. Here, real estate cash flows provide structural downside protection throughout the cycle.
One vehicle, audited governance, institutional custody, AML compliance, and simplified reporting — instead of managing two separate allocations.
GP compensation scales only with investor success. Carry vests over time and only if performance hurdles are met. Zero carry in downside scenarios.
Two scarce, uncorrelated assets hedging against monetary debasement — while fiat currencies continue to lose purchasing power decade after decade.
We invite qualified investors to a private one-on-one session. The complete financial model and deep-dive deck are available upon request.
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