In a landmark move on June 26, the U.S. Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to prepare for accepting cryptocurrencies as eligible reserve assets in mortgage applications. The announcement sparked widespread discussion, with Binance co-founder and former CEO Changpeng Zhao (CZ) posting on X: “The future American Dream will be owning 0.1 BTC, which will be worth more than a house in the U.S.”
Regulatory Directive: Crypto Enters Mainstream Finance
FHFA Director William J. Pulte stated that the agency has formally instructed Fannie Mae and Freddie Mac to develop proposals allowing borrowers to use digital assets as reserve capital for mortgages. Previously, only fiat-based liquid assets such as checking accounts, investment portfolios, or retirement funds were accepted; digital assets were excluded unless converted to cash. The new rules require crypto holdings to be stored on U.S.-regulated centralized exchanges, verifiable, and subject to risk-based discounts.
Pulte described the move as part of a broader push to make the United States the “crypto capital of the world.” He noted that including digital assets in loan assessments could improve borrower evaluation and expand homeownership access. While critics warn about crypto volatility and regulatory uncertainty, supporters argue the FHFA directive signals important institutional recognition of digital asset legitimacy.
CZ: 0.1 BTC Will Eclipse Real Estate Value
Responding to Pulte's post, CZ commented: “Great to see BTC accepted as an asset for mortgages! The current American Dream is to own a house; the future American Dream will be to own 0.1 BTC, which will be worth more than a U.S. house.” His view is based on Bitcoin's long-term scarcity and appreciation potential. At press time, Bitcoin trades around $67,000, making 0.1 BTC worth roughly $6,700, while the U.S. median home price exceeds $400,000. CZ's prediction implies Bitcoin would need to appreciate dozens of times to achieve that parity.
Market analysts note that while 0.1 BTC is unlikely to rival a home in the near term, the FHFA move creates a new use case for Bitcoin. If more financial institutions follow, acceptance of Bitcoin as collateral could rise significantly, driving long-term price growth. CZ's comment also reflects the crypto industry's confidence in digital assets becoming mainstream store-of-value vehicles.
Potential Impact and Challenges
This policy shift could reshape the U.S. housing finance system. On one hand, it allows crypto holders to obtain loans without selling assets, reducing taxable events; on the other, banks and lenders must develop new risk models to handle high volatility. FHFA has already required Fannie Mae and Freddie Mac to include risk-based discounts in their proposals, such as applying haircuts based on market fluctuations. Experts estimate that Bitcoin as collateral may initially be valued at only 40%-60% of its market price.
Meanwhile, other federal agencies are watching closely. The SEC and CFTC are working on clearer digital asset regulatory frameworks. If FHFA's experiment succeeds, it could pave the way for broader crypto adoption in areas like corporate reserves, pension funds, or even tax payments. However, critics warn that crypto prices could crash due to regulatory crackdowns or market sentiment, leaving collateral insufficient and increasing systemic risk.
Overall, integrating cryptocurrencies into U.S. housing finance is a bold experiment. CZ's comments, though optimistic, capture the industry's excitement about digital assets entering mainstream finance. Whether 0.1 BTC becomes the “new American Dream” depends not only on Bitcoin's price but also on regulators' ability to balance innovation and protection.