Author
Julia Smith
Author
Julia Smith
Share
Owning Bitcoin will replace home ownership as the American dream, former Binance CEO Changpeng “CZ” Zhao told his followers on social media this week.
Bitcoin Ownership Is The New American Dream, CZ Says
A June 26 X post from Zhao shows the crypto entrepreneur celebrating U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte’s decision to order both Fannie Mae and Freddie Mac to consider ways cryptocurrencies may be used in mortgage risk assessments.
“This is great to see, BTC count as assets for mortgage,” Zhao wrote in response to Pulte’s post.
“The current American Dream is to own a home,” Zhao continued. “The future American Dream will be to own 0.1 BTC, which will be more than the value of a house in the US.”
Issued on Wednesday, Pulte’s order will see the two government-sponsored enterprises prepare a proposal considering “cryptocurrency as an asset for reserves in their respective single-family mortgage loan risk assessments” without first being converted to U.S. dollars.
If approved, prospective homeowners would be able to use cryptocurrencies stored on any U.S.-regulated centralized exchange as part of their mortgage risk assessment without being converted to USD first.
“Today is a historic day in the cryptocurrency industry and the mortgage industry, whereby Fannie Mae and Freddie Mac are now positioned to involve Cryptocurrencies in Mortgages,” Pulte said in a June 25 statement. “Thank you President Trump for making the USA the crypto capital of the world!”
Trump Talks Bitcoin
News of Zhao’s commentary comes as Bitcoin held steady around $107,000 on Friday.
During a White House press conference on Friday, U.S. President Donald Trump praised the cryptocurrency, claiming that it “takes a lot of pressure off of the dollar” and is “a great thing for our country.”
“It’s become amazing,” Trump told reporters.
Credit: Source link
