Coinbase just turned your Bitcoin into a down payment

Coinbase launched a mortgage product where Bitcoin collateral can fund the down payment without selling BTC, avoiding a taxable event tied to a sale. The example cited pledges $250,000 in Bitcoin for a $100,000 down payment, with no margin calls even if the BTC price collapses. Overall, the offer is a constructive adoption step for crypto-backed lending, though it appears product-specific rather than broadly market-moving.