Bitcoin-backed mortgages debut in Australia amid housing crisis

Key Points

1. Block Earner introduced Australia's first Bitcoin-backed mortgage, allowing Bitcoin to be used as collateral for up to 50% of a property's value.

2. The product was made possible by an April Federal Court ruling permitting Bitcoin as collateral in home loans, with custody managed by Fireblocks.

3. In the US, the FHFA is considering crypto as a reserve asset in mortgage risk assessments, and a new bill (H.R.4374) could recognize crypto holdings on regulated exchanges for loan eligibility.

4. Australia and the US face severe housing affordability crises, with median home prices at record highs and homelessness increasing.

5. Bitcoin's value has risen nearly 87% in the past year, making it an attractive asset for collateral in mortgage financing.