MetaMask intends to add Bitcoin support: report

The popular self-custodial hot wallet is looking to add Bitcoin BTC +0.00078% support, reports CoinDesk citing people familiar with the matter.  

The wallet provider hopes to roll out Bitcoin support within the next month, but those plans are subject to change. Bitcoin features could start small and grow over time, CoinDesk adds. Though MetaMask already expanded beyond the Ethereum ecosystem with the inclusion of Snaps, the move would add one of the most popular blockchains onto the most popular digital wallet platforms. 

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

MetaMask was the most popular wallet by downloads, hitting 22 million downloads in August 2023. The wallet's developers recently added other features to bolster user experience, such as incorporating Blockaid-based security alerts for numerous blockchains, Ethereum validator staking and a feature letting users check their eligibility for airdrops and NFT claims. 

Consensys, MetaMask's core developer, raised $450 million in Series D funding led by ParaFi capital, giving Consensys a $7 billion valuation in March 2022. The firm sued the Securities and Exchange Commission in late April regarding the regulator's contradictory stance over whether ether is a security and if the regulator has jurisdiction over the asset's regulation. The SEC had issued a Wells notice, which notes an intent to pursue legal action against the recipient, earlier that month. 

Bitcoin traded at $70,240 at 12:45 p.m. ET (16:45 UTC) on May 22. The Block's Data Dashboard shows that the Bitcoin network saw 14.48 million transactions in April.