Swan Signal Live - A Bitcoin Show Farewell to Steven + Bitcoin Hits the Mortgage Market
Jun 27, 2025
The team bids a heartfelt farewell to longtime host Steven Lubka, reminiscing about his contributions to Bitcoin and the community. They discuss groundbreaking FHFA guidance that could allow Bitcoin as an asset in mortgage underwriting, making it easier for holders to qualify for loans. Texas makes history by establishing a $10M Bitcoin reserve. The conversation also covers institutional adoption, including Philippe Laffont's regret over not investing sooner, and the implications of growing Bitcoin treasury companies for market dynamics.
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Bitcoin Can Now Count In Mortgage Underwriting
- FHFA guidance to count Bitcoin as an asset could let Bitcoin holders qualify for mortgages without selling their coins.
- This signals deeper integration of Bitcoin into mainstream financial underwriting practices.
Move Bitcoin To Recognized Custody For Loans
- If you plan to use Bitcoin as reserves for a mortgage, expect lenders to prefer third-party custody over self-custody.
- Do not assume Bitcoin will be immediately counted as imputed income or in cold storage for underwriting.
Texas Establishes A Bitcoin Reserve
- Texas created a $10M Bitcoin strategic reserve, the first U.S. state to do so, signaling symbolic but historic adoption.
- The initial allocation is tiny relative to the state budget but opens the door for larger allocations later.