Bitcoin support added to MetaMask: Report

Popular self-custodial hot wallet to be added bitcoin BTC

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The support team reported this to CoinDesk, citing people familiar with the matter.

The wallet provider hopes to roll out Bitcoin support within the next month, but these plans may change. Bitcoin features can start small and grow over time, CoinDesk added. MetaMask has already expanded beyond the Ethereum ecosystem to include Snaps, but this move will add one of the most popular blockchains to the most popular digital wallet platform.

MetaMask mainly supports networks compatible with Ethereum, Ethereum Layer 2, and the Ethereum Virtual Machine (EVM), such as Avalanche, Polygon, Optimism, and Arbitrum. However, MetaMask expanded beyond the Ethereum ecosystem in September 2023 to include Snaps, a type of JavaScript application.

MetaMask is the most popular wallet by downloads, reaching 22 million downloads in August 2023. The wallet developer has recently added other features to enhance the user experience, including Blockaid-based security alert integration for numerous blockchains, Ethereum validator staking, and user verification capabilities. Airdrop and NFT claim eligibility.

Consensys, the core developer of MetaMask, has raised $450 million in Series D funding led by ParaFi Capital, valuing Consensys at $7 billion in March 2022. The company sued the Securities and Exchange Commission in late April over the regulator’s conflicting positions on whether Ethereum is a security. Whether the regulator has jurisdiction over asset regulation. The SEC issued a Wells notice earlier that month stating its intent to take legal action against the receiver.

Bitcoin was trading at $70,240 at 12:45 PM (16:45 UTC) on May 22. The Bitcoin network recorded 14.48 million transactions in April, according to The Block’s data dashboard.

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