Bitcoin Fusion Real Estate · Stratum Fund I
Cash-flowing real estate, fused with Bitcoin.
Stratum Fund I acquires cash-flowing multifamily property and layers a Bitcoin position into the same structure. Managed by Pyrus Capital Management, our real estate affiliate. For accredited investors.
Two assets that answer each other’s weakness.
Real estate produces income but grows slowly. Bitcoin is held for appreciation but produces no income. Held together, each covers for the other, and the Bitcoin sleeve offsets liabilities that are structured in dollars.
Cash-flowing multifamily
Institutional-quality multifamily property acquired for durable rental income, operated by a real estate group with over two decades of experience.
Bitcoin fused into the structure
A Bitcoin position held inside the fund alongside the property: a scarce asset held for appreciation next to a cash-flowing one, and a hedge against the dollar-denominated debt and expenses the fund carries.
Income and appreciation, together
Rental cash flow services the structure while the Bitcoin sleeve is positioned to compound returns over the fund’s life.
Real estate carries the cash flow. Bitcoin carries the reflexivity.
One vehicle, two sleeves. The majority of capital sits in cash-flowing multifamily property; a Bitcoin position is layered alongside it as a disinflationary hedge and an appreciating capital base.
Illustrative allocation, not fund terms. The property sleeve is the majority of capital; the Bitcoin sleeve is the minority.
Real estate brings
- Durable rental cash flow that services the structure
- A hard asset with a century of institutional underwriting behind it
- Access to deep traditional real estate credit, including agency lending
Bitcoin brings
- A disinflationary, appreciating capital base against a debasing dollar
- A partial hedge on property value, rates and cyclical volatility
- Captures the monetary premium that flows from real estate into Bitcoin
- Diversifies the fund beyond one sector, building resilience and creditworthiness
What a Bitcoin sleeve does to a real estate return.
Ten illustrative years, isolating what the Bitcoin sleeve adds. The property return is held at a 7% base case; the real estate sleeve cushions the bear case.
Property base case. The 7% real estate return excludes value-add and NOI improvements from acquisition and management,
which typically lift real estate fund returns into double digits. This illustration isolates what the Bitcoin sleeve adds.
› See the numbers
| Scenario | Yr 5 | Yr 10 | IRR |
|---|---|---|---|
| Multifamily only | 1.40x | 1.97x | 7.0% |
| Fusion, Bitcoin −20%/yr | 0.97x | 1.22x | 2.0% |
| Fusion, Bitcoin flat | 1.24x | 1.58x | 4.7% |
| Fusion, Bitcoin +15%/yr | 1.65x | 2.80x | 10.8% |
| Fusion, Bitcoin +32%/yr | 2.44x | 7.60x | 22.5% |
| 100% Bitcoin −20%/yr | 0.33x | 0.11x | -20.0% |
Hypothetical illustration for discussion only. The 7% property return is a base case that excludes value-add and net operating income improvements from acquisition and management; with those, real estate returns would be expected to be higher. The 7% figure and the 60/40 allocation are illustrative assumptions, not the terms of Stratum Fund I. Assumes constant annual returns, no rebalancing, and no fees, taxes or leverage effects. Bitcoin is volatile and may decline; on the flat and -20% paths the fusion fund trails the traditional fund, and a 100% Bitcoin position on the -20% path loses most of its value. The shaded band compares two hypothetical paths and is not a guarantee that any capital is protected. 32% per year approximates Bitcoin’s historical ten-year compound growth; past performance is not indicative of future results. IRR is the annualised return on a buy-and-hold multiple with no interim cash flows. Not a forecast, projection or guarantee of performance, and not an offer to sell any security.
One expert team runs both.
Stratum Fund I is managed by Pyrus Capital Management, our real estate affiliate, whose team combines multifamily and Bitcoin expertise and co-manages both sleeves of the structure.
For real estate investors, that means straightforward access to a structure with better risk management than a traditional private real estate fund, run by people equipped for the complexities of both assets.
Limited partners: accredited investors, $200,000 minimum. Information and subscriptions through Pyrus Capital Management.
Frequently asked questions
Everything you need to know about Stratum Fund I.
Our Bitcoin Fusion real estate fund: cash-flowing multifamily property with a Bitcoin position layered into the structure, so investors hold income and appreciation in one vehicle.
Learn moreAccredited investors, with a $200,000 minimum. Information and subscriptions are handled by Pyrus Capital Management, our real estate affiliate.
Learn moreA Bitcoin position is held inside the fund alongside the property. The exact allocation and mechanics are set out in the fund documents.
Learn morePyrus Capital Management, our real estate affiliate. One team with multifamily and Bitcoin expertise co-manages both sleeves.
Learn moreStratum Fund I is forming. Request information from Pyrus Capital Management, which manages the fund; the minimum commitment is $200,000.
Learn moreNo. Nothing on this site is an offer to sell or a solicitation of an offer to buy any security. Any offering is made only through definitive documents.
Learn moreRegister interest in Stratum Fund I
Information requests and subscriptions are handled by Pyrus Capital Management, our real estate affiliate. Accredited investors, $200,000 minimum.
