Popular cryptocurrency wallet MetaMask might soon add Bitcoin support, CoinDesk reports. An unnamed source cited by the outlet said access could be granted within the next month, while another mentioned that the functionality is not yet finalized. The features may be initially limited and then expanded over time.
A blockchain software company, Consensys created MetaMask to connect users to Ethereum’s blockchain ecosystem. The wallet supports Ethereum and Ethereum Virtual Machines (EVMs), such as Avalanche, Polygon, Optimism, and Arbitrum.
Currently, MetaMask does not directly facilitate Bitcoin acquisition. Users must make the transactions using Wrapped Bitcoin (WBTC). A Wrapped Bitcoin is a tokenized version of Bitcoin that operates on the Ethereum blockchain. It is pegged 1:1 to Bitcoin, so one Wrapped Bitcoin is always equal to one Bitcoin. It acts as a bridge between Bitcoin and Ethereum’s decentralized applications (dApps). If the CoinDesk report pans out, MetaMask users will soon be able to add Bitcoin directly.
This is not the first time MetaMask has expanded beyond the Ethereum ecosystem. In 2023, the company added a feature called Snaps. Snaps are JavaScript applications that enable cross-chain interoperability, allowing different blockchain networks to communicate and interact without intermediaries.
Users have downloaded MetaMask’s apps over 22.66 million times, according to CoinGecko.
