JosanUno
3 Following
6 Followers
11 Liked
0 Shared
Posts
Quotes
See original
Bitcoin and cryptocurrencies officially enter the U.S. mortgage system
The Federal Housing Finance Agency has just issued a historic directive: Fannie Mae and Freddie Mac must consider Bitcoin and other cryptocurrencies as part of the risk analysis for single-family home mortgages.
What changes with this?
Until now, if you had Bitcoin or any other cryptocurrency, they did not count as part of your financial reserves when applying for a mortgage, unless you converted them to dollars. That will no longer be strictly necessary.
From now on, they can be evaluated as valid financial assets, as long as they are stored in regulated exchanges in the U.S. and their value and liquidity can be verified.
Why is this so relevant?
Bitcoin and other cryptocurrencies are starting to be seen as a real part of citizens' wealth. Additionally, there is a modernization of the financial system: it adapts to new forms of wealth and stores of value.
There is also more inclusion and flexibility: People who save or invest in crypto will be able to access mortgage loans without having to liquidate their assets.
The Federal Housing Finance Agency has just issued a historic directive: Fannie Mae and Freddie Mac must consider Bitcoin and other cryptocurrencies as part of the risk analysis for single-family home mortgages.
What changes with this?
Until now, if you had Bitcoin or any other cryptocurrency, they did not count as part of your financial reserves when applying for a mortgage, unless you converted them to dollars. That will no longer be strictly necessary.
From now on, they can be evaluated as valid financial assets, as long as they are stored in regulated exchanges in the U.S. and their value and liquidity can be verified.
Why is this so relevant?
Bitcoin and other cryptocurrencies are starting to be seen as a real part of citizens' wealth. Additionally, there is a modernization of the financial system: it adapts to new forms of wealth and stores of value.
There is also more inclusion and flexibility: People who save or invest in crypto will be able to access mortgage loans without having to liquidate their assets.
See original
ProCap by Anthony Pompliano has purchased 3,724 #BTC for 45,458,447,074,386 million just a few days after revealing plans to go public through a $1B SPAC merger.
The firm aims to allocate up to $1B to Bitcoin as part of its corporate treasury strategy.
If it lists today, ProCap would rank among the top 15 public holding companies 56,521,686,121.
The firm aims to allocate up to $1B to Bitcoin as part of its corporate treasury strategy.
If it lists today, ProCap would rank among the top 15 public holding companies 56,521,686,121.
Login to explore more contents