In June 2025, the Federal Housing Finance Agency (FHFA) publicly acknowledged that it is conducting strategic research on 'whether to include crypto assets in mortgage assessment criteria', with Bitcoin (BTC) being one of the key assets.
This potential transformation may mark the first time crypto assets are incorporated into the mainstream credit system in the United States, ushering in a new era of integration across regulation, finance, and technology.
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1. Policy Shift: Bitcoin has officially entered the government's view as a potential collateral asset.
According to FHFA Director Bill Pulte, the agency is researching the feasibility of 'including cryptocurrency in mortgage assessment criteria'. In other words, when the public applies for loans from U.S. mortgage agencies like Fannie Mae and Freddie Mac, Bitcoin and other digital assets have the opportunity to be seen as valid financial credentials alongside stocks and bonds.
The logic behind this is:
Traditional mortgage-recognized assets must be 'liquid, verifiable, and custodial by regulated entities'.
Cryptocurrency assets that have been custodial (such as Coinbase Custody, BitGo, etc.) have gradually met the criteria.
As the market matures and price stability increases, Bitcoin is transitioning from a high-volatility asset to 'trusted collateral'.
This is the first systematic assessment by U.S. officials of Bitcoin's 'financial role transformation', rather than merely viewing it as a risk asset or regulatory gray area.
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2. Market Implications: Mortgage asset market value is $18 trillion, with vast potential benefits for BTC.
The overall scale of the U.S. mortgage market exceeds $18 trillion, making it one of the largest credit systems globally. If Bitcoin is officially included in the asset recognition for mortgage applications, it could have several far-reaching impacts:
1. Asset allocation structure rewritten.
Institutional investors will reassess allocation models, viewing Bitcoin as a 'credit support tool' similar to cash and stocks. Holding Bitcoin will no longer be just an investment option, but a way to enhance asset credit scores.
2. Surge in compliance custody demand.
If regulatory agencies recognize Bitcoin assets, they will inevitably rely on third-party compliance custodians, and companies like Coinbase, Anchorage, and BitGo will see B2B growth dividends.
3. On-chain financial infrastructure enters the mainstream.
Not only custody, but also including tax reporting, automated tracking, stable pricing mechanisms, etc., will all become foundational service directions for the new wave of crypto startups.
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3. Infrastructure Extension: Bitcoin L2 and DeFi will play a key role.
If Bitcoin shifts from 'simple holding' to 'financial collateral', its liquidity and applicability will also need to be upgraded accordingly.
This is where emerging Bitcoin Layer 2 protocols like Bitcoin Hyper come into play.
Bitcoin Hyper adopts the Solana virtual machine architecture, providing a fast, low-cost, natively supported trading experience:
Users lock BTC on the main chain and mint it as wBTC on the Hyper chain through cross-chain.
Participating in liquidity mining, lending, payments, and other applications.
Still retaining the security of the main chain while unlocking high-efficiency functions.
The core value of such applications lies in making Bitcoin 'no longer just a store of value', but a true underlying asset that supports overall crypto financial activities.
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4. Institutional recognition will reshape asset narratives.
Incorporating Bitcoin into the mortgage system signifies a new narrative is emerging:
Early Bitcoin: Anti-establishment, decentralized, speculative.
Mature Bitcoin: Anti-inflation, store of value, risk asset.
Future Bitcoin: Institutional-level asset, collateralizable credit, financial pass.
This will impact not only the investment market but also drive the establishment of a series of new products, applications, and regulatory frameworks.
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Conclusion: Bitcoin is transitioning from 'store of value' to 'institutional consensus'.
When government agencies no longer reject Bitcoin but seek to incorporate it into their credit systems, what we see is not just changes in asset prices, but a fundamental restructuring of market logic.
The value of crypto assets will no longer be based solely on price fluctuations, but because they are incorporated into the financial system we truly live in—as part of home ownership, lending, collateral, and even everyday credit.
This is the power of institutionalization and represents the most groundbreaking step for Bitcoin after fifteen years of development.