Recent reports from Coindesk claim that MetaMask could possibly add support for Bitcoin in the coming months.
The move could see MetaMask onboard millions of new users. Let’s explore more about this important news for Bitcoin.
MetaMask Considering Bitcoin Integration: Potential Game-Changer
The Coindesk report cited two individuals familiar with the matter. One of the unnamed sources claimed plans still needed to be set in stone. Meanwhile, another believes MetaMask could limit features for Bitcoin at first and expand it later on.
Supporting Bitcoin could be a significant improvement for the crypto industry. MetaMask is the biggest Ethereum wallet. It supports networks compatible with the Ethereum Virtual Machine (EVM) and Ethereum Layer 2 networks. Some of them are Polygon, Avalanche, Arbitrum, and Optimism.
Source: X
MetaMask records up to 30 million monthly active users within the DeFi and NFT spaces. A MetaMask spokesperson commenting on the rumors said, “We’re excited about MetaMask’s commitment to embracing the multi-chain world of web3 and continually exploring new integrated features to enhance the usability and security of the leading self-custodial wallet. While we can’t confirm any timeline for specific developments at this time, we’re always working on innovations to serve our users better. Stay tuned for further updates when we’re ready to share more.”
More About Metamask
As of now, MetaMask does not directly facilitate native Bitcoin. Instead, it relies on a Wrapped Bitcoin (WBTC), an Ethereum-compatible ERC-20 token known to move BTC to DApps on Ethereum. The wallet service has also expanded beyond the Ethereum ecosystem. Last year, it welcomed Snaps, a type of JavaScript application.
Source: X
The wallet’s developers recently made some upgrades to the service. This includes features like integrating Blockaid-based security alerts for different blockchains. Developers also included a feature enabling users to know their eligibility for NFTs and airdrops.
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