Stuart Alderoty, chief legal officer at enterprise blockchain Ripple, has stated that crypto's big mortgage breakthrough is good news for a total of 55 million Americans who own Bitcoin (BTC). 

As reported by U.Today, Bill Pulte, the director of the U.S. Federal Housing Finance Agency (FHFA), recently issued a directive instructing mortgage behemoths Fannie Mae and Freddie Mac to develop plans for factoring in cryptocurrency payments when assessing eligibility for a mortgage. 

This means that Americans will be able to use crypto to buy a house without converting it into dollars. 

Several cryptocurrency industry leaders have stressed the significance of such a move, with Strategy cofounder Michael Saylor describing it as a "defining moment" for Bitcoin's institutional adoption. "Future generations will remember this as the moment Bitcoin entered the American dream," he said in a recent post on X. 

Analyst Eric Coleman has stated that Bitcoin being designated as a reserve asset within the American housing system shows that it is now treated as a credible form of collateral in mainstream finance.

Some have also noted that this will enable more young adults to qualify for their first mortgages.

However, some have still cautioned about the volatility of crypto assets, recalling the subprime mortgage crash of the late 2000s.

Meanwhile, some Bitcoiners also expressed concerns about self-custody since the coins will have to be stored on centralized exchanges of the likes of Coinbase in order to qualify for a mortgage.