TechFlow, June 29 — Ark Invest CEO Cathie Wood said, "Bitcoin holders likely have a significant portion of their net worth tied up in cryptocurrency, making them ineligible for mortgage loans. I wouldn't be surprised if they transferred some Bitcoin to Coinbase as collateral for a new home that was once out of reach."
Previously, crypto journalist Eleanor Terrett revealed that Fannie Mae and Freddie Mac have been instructed to explore including cryptocurrency in reserve requirements for mortgage applications, meaning crypto could count toward reserves without needing to be converted into USD, provided it is held in spot form. Additionally, according to relevant requirements, only cryptocurrencies listed on U.S.-regulated trading platforms are eligible to be included in Fannie Mae and Freddie Mac mortgage reserve assets, and such assets must also have volatility mitigation measures in place.
