Michigan Couple Secures First Bitcoin-Backed Mortgage
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Source: NASDAQ.COM
- First Bitcoin Mortgage: A Michigan couple has secured the country's first Bitcoin-backed mortgage through Better and Coinbase, marking a new trend in utilizing digital assets for real estate financing that could attract younger homebuyers.
- Opportunity for Young Buyers: Better claims that 41% of its pre-approved customers cannot make traditional down payments due to cash shortages, and allowing them to use Bitcoin or USDC as collateral could reduce this percentage, thereby expanding the potential customer base.
- Innovative Mortgage Structure: The mortgage from Coinbase and Better employs a dual-loan structure, where a traditional loan covers the entire home while a second token-based loan covers the down payment, with the latter over-collateralized in Bitcoin (250%) or USDC (125%) to mitigate market volatility.
- Market Outlook: While this product may not gain traction beyond a niche of crypto investors, it offers an intriguing glimpse into the future of real estate transactions, showcasing the potential for Bitcoin and stablecoins to be used as collateral, particularly among younger investors.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 155.500
Low
230.00
Averages
361.63
High
440.00
Current: 155.500
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the onchain economy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. The Company offers products and services to various customer groups: consumers, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime trading, markets, base protocol and Coinbase wallet. The Company also provides market infrastructure in the form of exchanges for customers to trade spots and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Launch of MAVAN: Bitmine has launched MAVAN (Made in America Validator Network) to provide secure and high-performance Ethereum staking services for institutional investors, which is anticipated to attract more institutional capital and strengthen its market competitiveness.
- Total Asset Growth: Bitmine's total cryptocurrency assets, liquidity, and 'moonshots' amount to $9.6 billion, including 5,543,872 ETH and $247 million in liquidity, showcasing its strong financial foundation and investment potential.
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