Binance founder Changpeng Zhao shared his opinion that owning 0.1 Bitcoin might one day be more valuable than owning a home in the U.S. This statement followed new housing initiatives that could allow Bitcoin to be used as a financial reserve when applying for a mortgage.
Bitcoin for Mortgages: A Major Step Forward
On June 26, Changpeng Zhao responded to a post by William Pulte, Director at the U.S. Federal Housing Finance Agency (FHFA), who revealed that housing giants Fannie Mae and Freddie Mac have been asked to prepare proposals for integrating crypto into mortgage qualifications.
New Rules, New Opportunities
If accepted, this proposal could redefine how Americans qualify for mortgages, particularly broadening access for crypto holders. However, certain rules would apply: crypto assets would need to be verifiable, stored on U.S.-regulated exchanges, and subject to risk-based discounts due to volatility.
Crypto Community Reaction
Changpeng Zhao responded positively to the initiative, calling it a 'great step' and boldly claiming that the new American Dream will focus on owning 0.1 BTC rather than just real estate. This stance sparked active discussions on social media, with some supporting CZ's view while others expressed skepticism regarding the unpredictable price fluctuations of cryptocurrencies.
The integration of Bitcoin into the mortgage qualification process could mark a significant moment for the crypto industry in the U.S., showcasing growing trust in digital assets and opening new opportunities for the integration of cryptocurrencies into the financial system.
