Altcoins News
By Bruce Buterin
1 / 15
How the Crypto Mortgage Works. The new product basically lets crypto holders tap their digital wealth for home purchases without…
2 / 15
Schiff Doubles Down on Warnings. Schiff didn't stop at the podcast criticism. He took to Twitter on March 30, warning potential…
3 / 15
Industry Scrambles to Respond. The Blockchain Association jumped into the fight on March 31, demanding more transparency from…
4 / 15
Peter Schiff went nuclear. The gold bug and crypto critic tore into Fannie Mae's new cryptocurrency mortgage product, calling it a "dangerous trap" that could wreck homebuyers…
5 / 15
Fannie Mae approved the crypto-backed mortgage earlier this month, marking the first time the government-sponsored enterprise has blessed a home loan tied to digital currencies.
6 / 15
Not everyone's buying Schiff's doom-and-gloom take.
7 / 15
Tech-savvy buyers are pretty excited about it. A CryptoCompare survey found 40% of people aged 25 to 34 would consider using crypto for home financing.
8 / 15
Some real estate firms are already jumping on board. A California company announced plans to partner with crypto banks to attract Bitcoin millionaires looking to buy houses.
9 / 15
Schiff didn't stop at the podcast criticism. He took to Twitter on March 30, warning potential homebuyers about the "long-term implications" of crypto mortgages.
10 / 15
"Tying homeownership to such a volatile asset class could lead to significant financial distress for buyers if the market takes a downturn," Schiff said during his podcast…
11 / 15
The gold advocate has built his career on predicting financial disasters, and he sees crypto mortgages as another bubble waiting to pop.
12 / 15
Fannie Mae pushed back the next day. A company spokesperson said the crypto mortgage aims to "explore new financial solutions that could widen access to homeownership" for people…
13 / 15
The Blockchain Association jumped into the fight on March 31, demanding more transparency from Fannie Mae about how the crypto mortgages actually work.
14 / 15
Coinbase smelled opportunity and announced plans to explore partnerships with mortgage providers.
15 / 15
Other major mortgage lenders are watching closely. Industry analysts think Fannie Mae's move could spark copycats if the product gains traction.
The Currency Analytics
Want the full story?