Minutes after Bitcoin plunged below the $70,000 handle on Thursday evening, Grant Cardone of Cardone Capital told followers on X that, with "Bitcoin crashing," he now has to sell his $75 million private jet.

"Bitcoin is crashing so I have to say bye to the love of my life. Tough choices," Grant Cardone posted around 7:32 p.m. ET, minutes after Bitcoin slipped to around $69,000. Hours later, in Asian trading, it crashed further to about $60,033 (has since recovered to $70,000 by EOD Friday).

Cardone continued, "2024 Bombardier Global 7500, loaded, 5-year warranty, full programs, only 190 hours, full k-band, and ready for Starlink."

He noted that the $75 million Global 7500 (fitted for 17 passengers) is listed on Controller, a website with a searchable marketplace for buying and selling aircraft (jets, turboprops, piston airplanes, helicopters).

Controller states the jet's tail number is "N724EM" and has approximately 59.8 hours on the airframe. Total landings are about 25, an indication that use of the jet was fairly light.

Cardone's X feed has seen a flood of posts over the last year about a "Bitcoin hybrid" strategy that works as a real-estate syndication, running a built-in Bitcoin accumulation plan inside the same fund.

Bitcoin drawdowns appear to be a stress test for Cardone's hybrid model. One can only imagine what a worst-case scenario, combining a crypto drawdown with tightening liquidity and stress across commercial real estate, would do to that strategy.

Well, for Cardone, it's now NetJets.