The American Dream is evolving, according to former Binance CEO Changpeng “CZ” Zhao. In a recent social media post, Zhao declared that owning Bitcoin will soon replace home ownership as the new American dream. This statement came after the U.S. Federal Housing Finance Agency (FHFA) Director Bill Pulte directed Fannie Mae and Freddie Mac to explore ways in which cryptocurrencies can be utilized in mortgage risk assessments.
In response to Pulte’s directive, Zhao expressed his enthusiasm, stating, “The current American Dream is to own a home. The future American Dream will be to own 0.1 BTC, which will be more valuable than a house in the US.” This shift in perspective highlights the growing importance of digital assets like Bitcoin in the financial landscape.
Pulte’s order, issued on Wednesday, instructs the two government-sponsored enterprises to consider cryptocurrency as an asset for reserves in single-family mortgage loan risk assessments without the need for conversion to U.S. dollars. If approved, this proposal would allow prospective homeowners to use cryptocurrencies held on U.S.-regulated centralized exchanges as part of their mortgage risk assessment, marking a significant milestone for the cryptocurrency industry.
In a statement following the announcement, Pulte emphasized the significance of integrating cryptocurrencies into the mortgage industry, thanking President Trump for positioning the USA as a leading hub for crypto innovation. This development signals a new era of financial inclusion and innovation, bridging the gap between traditional real estate ownership and digital assets.
Meanwhile, Bitcoin continues to hold steady around $107,000, reflecting its growing stability and value in the market. President Trump also weighed in on the cryptocurrency during a White House press conference, praising its ability to alleviate pressure on the dollar and describing it as a positive development for the country.
As the narrative around the American Dream evolves, the rise of Bitcoin as a coveted asset underscores the changing landscape of wealth and prosperity. With influential figures like CZ and President Trump acknowledging the value of cryptocurrencies, it is clear that the future of financial success may be defined by digital assets rather than traditional real estate ownership.