I never thought that Bitcoin could ever allow me to buy a house, but it can. America has evolved in terms of this housing market, and you can now deal with the application of a mortgage using Bitcoin and other cryptocurrencies.
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This is big news to people like me who are digital asset owners, and this is what I want to clarify: what has changed, how the system is run, and what you need to know in case you are considering purchasing a home with your cyber-enriched wallets.
To begin with the headline, the two giants of the US mortgage market, Fannie Mae and Freddie Mac, are about to wage recognition of cryptocurrency as a mortgage-approvable asset. This implies that in case you are holding Bitcoin, they can be included in your monetary reserves when you seek a place mortgage. Banks used to dismiss my crypto investments over the years, but…
