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Mortgage Madness: Bitcoin Bulls Past $107K After FHFA Chief Drops Shocking Crypto Bombshell

BBG News

What you positively must know (before your granny asks):

  • Bitcoin, that magical digital beanstalk, climbed 2.2% Wednesday, leaping over $107,000 and leaving the poor old CoinDesk 20 gasping for breath.
  • William Pulte, the Grand High Wizard (officially, Director) of the FHFA, waved his wand and commanded Fannie Mae and Freddie Mac to ready themselves for a world where cryptocurrency counts as real, grown-up money for mortgages. Who knew?
  • Bitcoin hogged the chocolate—uh, I mean, crypto market—with its dominance swelling to a robust 66%. Gluttony, anyone? 🍫

Unlike those dull and dreary Wednesdays gone by, Bitcoin galloped up the price chart, wearing its sparkliest shoes. Fannie Mae and Freddie Mac—the boring old uncles of the mortgage world—found themselves being beckoned forth by William Pulte, who evidently fancied a little excitement and ordered them to consider crypto as proper loot on loan applications. “Why not pay your mortgage with digital gold?” he must’ve cackled over his morning brew.

With Bitcoin perched elegantly above $107,000 (and probably preening itself in the mirror), it’s up 2.2% in the last day, leaving the CoinDesk 20 index to sulk with a measly 0.5%. Meanwhile, Bitcoin Cash charged forward like a Golden Ticket winner, up a lip-smacking 7.4%.

Bitcoin’s dominance in the market grew fatter, expanding to 66%—having gobbled up territory since November’s puny, stick-thin 39%. 🍊 It’s strutting about, full of itself, and who can blame it?

Perhaps the secret ingredient was FHFA’s William Pulte taking to social media and, with all the subtlety of an Oompa-Loompa in a marching band, announcing that borrowers could soon brandish their crypto hoards when begging for a home loan.

Matt Cole, who is apparently the CEO of Strive (and not a Roald Dahl character, more’s the pity), declared on X: “It’s doubly delicious: some folks can now buy a house without selling their precious bitcoins, and the U.S. government is taking on bitcoin risk—like eating three-week-old Gobstoppers and hoping for the best.”

The Trump-brokered ceasefire between Israel and Iran could also be the secret sauce behind Bitcoin’s leap—never mind that it’s generally considered a safe haven, unlike gold, who likes a bit of fisticuffs. As Charlie Morris of ByteTree quipped, “Gold likes war, Bitcoin prefers peace. Gold strutted before the fighting, Bitcoin sulked. When calm looked likely, Bitcoin danced, and gold sloped off.” Who knew markets had moods?

Over in crypto stocks land (which Dahl would assuredly have called ‘The Topsy-Turvy World of Crypto’), not much is happening—apart from CleanSpark (CLSK) fizzing up 6.7% while CoreWeave (CORZ) tripped and fell, down the same amount, and Circle’s (CRCL) magical shrinking act, down 11% today and having lost a full third of its size since Monday. Still, at $198.62, it’s up more than six times from its IPO days, which in crypto years is about as long as Charlie waited for that golden ticket.

And there you have it, dear reader—a day in crypto that even Willy Wonka might have called “a bit wild.” 🍬💸

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2025-06-26 00:17

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