Michael Saylor Proposes Strategy’s Credit Model for US Bitcoin-Backed Mortgage Plan

Strategy Executive Chairman Michael Saylor has offered to share his Bitcoin (BTC) Credit Model with Trump’s Housing Director.

This aims to support Bill Pulte’s BTC-backed mortgage lending initiative.

The BTC Credit Framework

The offer came shortly after Pulte publicly expressed interest in evaluating how digital assets like Bitcoin might be used in mortgage underwriting.

“We will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages,” said the U.S. Director of the Federal Housing Finance Agency (FHFA).

Saylor responded by proposing Strategy’s BTC Credit model to support the FHFA’s efforts. The model is a Bitcoin-based system created by the company to assess the creditworthiness of its debt and preferred stock using its crypto holdings.

Instead of relying on traditional financial ratios, the framework looks at how many times the firm’s Bitcoin reserves cover its liabilities (BTC Rating), the credit risk based on volatility (BTC Risk), and a possible credit spread (BTC Credit).

Meanwhile, the business intelligence firm continues to grow its Bitcoin holdings. It recently revealed that it had bought an additional 245 BTC for $26 million, taking its position to 592,345 BTC, worth over $62 billion. This translates to more than $20 billion in unrealized profits, with the flagship cryptocurrency currently trading above $105,000.

FHFA Considers Crypto as Mortgage Collateral

The FHFA regulates the United States housing finance system and is considering whether crypto can count as assets during mortgage reviews. This could lead to a major change in the country’s housing policy. Until now, digital assets have mostly been excluded from mortgage applications because of their price volatility, regulatory uncertainty, and the lack of a standard way to value them.

The idea has gained attention across the crypto industry, with Tristan Yver, co-founder of the BackPack crypto exchange, calling it very bullish. He explained that many crypto holders usually need to convert their assets to fiat and move the money to a traditional bank before lenders accept it.

In the past, mortgage underwriters have typically only dealt with assets like cash savings, retirement accounts, and publicly traded stocks. Including crypto could benefit borrowers who hold large digital asset portfolios but prefer not to liquidate their stash to meet loan application requirements.

However, some critics pointed to the existing Digital Asset Market Clarity Act of 2025 (H.R. 3633), which already classifies crypto as legitimate collateral under federal lending standards. One X user argued that adding more layers of risk assessment would be redundant and potentially stop innovation.

“The market’s adapting faster than regulators—let’s streamline, not suffocate progress with more studies,” said the poster.

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