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Coinbase uses Bitcoin for mortgages to attract Fannie Mae

Monday, March 30, 2026 · from 2 podcasts
Presidio Bitcoin JamBitcoin And | Bitcoin & E…
  • Bitcoin mortgages let you keep your coins during a price crash if you make monthly payments.
  • The goal is to package these loans for sale to the government-backed secondary mortgage market.
  • This aims to turn Bitcoin into a credit tool for the asset-rich but cash-poor, avoiding forced selling.

Bitcoin is moving into the mortgage business, with a structure designed to sidestep both tax bills and margin calls.

Coinbase and mortgage lender Better have launched a home loan product that uses Bitcoin as collateral. The key innovation, detailed on Presidio Bitcoin Jam, is the absence of a volatility-induced margin call. As long as the borrower makes their monthly payment, the Bitcoin collateral stays untouched, regardless of market price. This solves the primary friction that has plagued crypto-backed lending.

Steve, Presidio Bitcoin Jam:

- The eye-popping thing about this is it's a Bitcoin-backed loan.

- But if the price of Bitcoin goes down, you don't have to pony up more Bitcoin.

The product targets a conservative 40% loan-to-value ratio, requiring $500,000 in Bitcoin to secure a $200,000 loan. This large cushion is a bet on Bitcoin's long-term price floor, allowing the lender to absorb volatility. The ultimate ambition is more systemic: to get these loans purchased by government-sponsored enterprises like Fannie Mae, bridging volatile digital assets with federal housing infrastructure.

DK, Presidio Bitcoin Jam:

- The real breakthrough is these loans can be purchased by Fannie Mae.

- That is big because that's government-backed.

This development mirrors a separate corporate trend of using Bitcoin on balance sheets without selling. On Bitcoin And, David Bennett analyzed GameStop's recent filing, which showed the company held its 4,709 Bitcoin throughout the 2025 slump. Instead of selling, GameStop used the coins as collateral in a covered call strategy with Coinbase Credit to generate yield, debunking narratives of forced liquidation.

Together, these moves signal Bitcoin's maturation from a speculative asset into a functional tool for credit and corporate treasury management. The mortgage product specifically serves the Bitcoin-rich but cash-poor, offering an alternative to triggering capital gains taxes through a sale. The real test will be whether legacy institutions like Fannie Mae accept the bridge being built.

BTC MarketsAdoptionBanking

Entities Mentioned

CoinbaseCompany
GameStopCompany
KPMGCompany
PwCCompany
TetherCompany

Source Intelligence

What each podcast actually said

Presidio Bitcoin Jam
Presidio Bitcoin Jam

Coinbase Mortgages, Privacy for AI and Payments, Lexe Launches • Mar 27

  • Coinbase partners with Better to offer mortgages using Bitcoin as collateral, eliminating volatility-induced margin calls.
  • Borrowers can avoid liquidation during price crashes if they continue making their monthly interest and principal payments.
  • Steve says the key innovation is a Bitcoin-backed loan where you don't need to add more collateral if the price drops.
  • The product relies on a conservative 40% loan-to-value ratio, requiring $500k in Bitcoin to secure a $200k loan.
  • DK argues the real breakthrough is that these loans are designed to be eligible for purchase by Fannie Mae.
  • Fannie Mae eligibility would bridge volatile digital assets with federal housing infrastructure, shifting systemic risk to the secondary market.
  • The product targets Bitcoin-rich but cash-poor investors, offering an alternative to paying capital gains tax from a sale.
BTC MarketsAdoptionBanking
Bitcoin And | Bitcoin & Economic News
Bitcoin And | Bitcoin & Economic News

Kraken Up | Bitcoin News • Mar 27

  • GameStop's latest 10-K filing reveals it held 4,709 Bitcoin throughout the 2025 market slump, contrary to speculation it had exited.
  • GameStop used its Bitcoin as collateral for a yield-generating covered call strategy with Coinbase Credit.
  • David Bennett notes GameStop set strike prices between $105,000 and $110,000, prioritizing immediate premium income over potential upside.
  • The strategy debunked the forced selling narrative and maintained GameStop's long-term Bitcoin exposure.
  • Because Coinbase gained re-hypothecation rights over the pledged coins, GameStop moved $368.3 million into digital asset receivables.
  • This accounting change de-recognized the BTC as an intangible asset, which analysts likely misinterpreted as a liquidation.

Also from this episode:

Regulation (3)
  • Brazil's Law 15.358, signed by President Lula, allows police to freeze digital assets and spend seized crypto before a court conviction.
  • David Bennett argues the law creates a dangerous incentive where police budgets can be funded by pre-conviction seizures.
  • Bennett says this signals a shift from regulation to predatory enforcement, turning digital wallets into revenue targets.
Stablecoins (2)
  • Tether hired KPMG for a full financial audit and PwC to overhaul internal systems, managing a $192 billion reserve.
  • The dual audit engagement is a calculated move for U.S. market legitimacy amid a stricter regulatory environment.
BTC MarketsRegulationAdoption

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