Changpeng “CZ” Zhao, the former CEO of Binance, stated in a recent announcement on his social media account that owning Bitcoin will soon become a new symbol of the American dream.
According to CZ, while owning a home was a fundamental element of the American dream in the past, in the near future, this will be replaced by Bitcoin.
Bitcoin Will Be a Fundamental Part of the New American Dream
Changpeng “CZ” Zhao emphasized that the acceptance of cryptocurrency as collateral in mortgage applications in the US is a historic development. In a post on X (formerly Twitter) on June 26, he stated, “The consideration of Bitcoin as an asset in mortgages is a tremendous step.”
Zhao expressed that while owning a home is still an important part of the American dream, in the future, this dream will change to ‘owning 0.1 BTC’ and that this will be more valuable than the value of many homes.
These statements came after Bill Pulte, the Director of the US Federal Housing Finance Agency (FHFA), prepared a plan on how cryptocurrencies could be used in mortgage risk assessments for government-backed mortgage institutions such as Fannie Mae and Freddie Mac. According to the new regulation, these institutions will consider accepting cryptocurrency assets directly as reserves without converting them into US dollars.
If accepted, assets held on regulated centralized cryptocurrency exchanges in the US can be used directly as collateral in mortgage applications.
In his statement on June 25, Bill Pulte thanked President Donald Trump for this development, stating, “He made the US the center of crypto.”
Trump's Support for Bitcoin: “A Great Progress for Our Country”
While the comments of Binance's former CEO regarding Bitcoin are trending, US President Donald Trump also made striking remarks about cryptocurrency.
Speaking at a press conference at the White House on Friday, Trump praised Bitcoin, saying, “It reduces pressure on the dollar” and described crypto as “a great development for our country.”
Trump, who said, “Bitcoin has caught an incredible rise,” emphasized that cryptocurrencies contribute to the US economy.
During Trump's statements, the price of Bitcoin was around $107,000. The President's words resonated widely among both cryptocurrency investors and the finance world.
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