Bill Pulte's directive to Fannie Mae and Freddie Mac to assess cryptocurrencies in mortgage risk evaluations could reshape the landscape for Bitcoin holders seeking loans, according to ARK Invest's Cathie Wood.
The Federal Housing Finance Agency (FHFA) has mandated Fannie Mae and Freddie Mac to devise plans for incorporating cryptocurrencies into mortgage risk assessments. ARK Invest CEO Cathie Wood believes this could significantly affect both the cryptocurrency and real estate markets. She points out that Bitcoin holders may struggle to qualify for mortgages due to their heavy investment in cryptocurrencies and might need to transfer some Bitcoin to centralized exchanges like Coinbase to use as collateral.