A recently announced plan by the US Federal Housing Agency to consider cryptocurrencies as assets for mortgage loans has generated significant interest in the crypto community.
Changpeng Zhao's Opinion on the New Law
Changpeng Zhao, former CEO of Binance, expressed a positive view on this move. He noted that using Bitcoin as a mortgage asset could lead to more use cases for cryptocurrencies, contributing to wider adoption.
quote: "This is great to see, BTC counts as assets for mortgage! The current American Dream is to own a home. The future American Dream will be to own 0.1 BTC, which will be more than the value of a house in the US." — Changpeng Zhao.
Impact on the Bitcoin Market
If the law is passed, demand for Bitcoin is expected to increase significantly, creating scarcity due to its limited supply. Zhao predicts that this could have a substantial effect on the value of the leading cryptocurrency by market capitalization, with 0.1 BTC potentially becoming a new wealth standard in the US.
Community Reaction to Predictions
Zhao's remark has received mixed reactions among users on X, with some criticizing his claim that 0.1 BTC would be worth more than a home in the US. However, others supported his forecast, believing that Bitcoin's price is headed for significant growth. As anticipation builds around the official implementation of this rule, the crypto ecosystem appears excited about the opportunity to use their crypto holdings as collateral for a mortgage.
The potential use of cryptocurrency in mortgage lending could reshape perceptions of the 'American Dream' and open new avenues for investment in the crypto community.
