Phantom Breaks Chains: Welcomes Bitcoin with Open ₿eta Arms!

Phantom, the self-custody crypto wallet rooted in Solana, made waves on Wednesday with its latest announcement—compatibility with Bitcoin, Ordinals, and BRC-20 tokens. This move, celebrated by Bitcoin enthusiasts, marks a significant milestone for the original cryptocurrency’s ecosystem.

The expansion follows Phantom’s recent foray beyond Solana, broadening its support to include decentralized applications (dapps) and assets on Ethereum and the scaling network Polygon. Bitcoin’s own ecosystem witnessed substantial growth in 2023, courtesy of the Ordinals protocol, ushering in NFT-like assets and the creation of Bitcoin-based tokens.

Wednesday’s revelation is part of a broader trend in the crypto space, highlighting the evolving role of the Bitcoin network. Traditionally standing apart from the dynamic NFT ecosystems of Ethereum and Solana due to its lack of support for smart contracts, Bitcoin is increasingly taking center stage in the digital asset economy.

Building anticipation with a teaser on Tuesday, Phantom garnered attention from notable figures like Udi Wertheimer, a prominent Bitcoin influencer and co-founder of the Taproot Wizards project. Wertheimer expressed his emotions, stating, “This is an emotional moment for me. Last year, in 2022, Bitcoin was a joke. The stagnant uncle of crypto. ‘Nothing to see here’ was the sentiment across the industry.”

Wertheimer went on to highlight the shift in perception, noting, “Today we have the top marketplaces and exchanges doing Bitcoin inscriptions—Magic Eden, OKX, Binance—and now we’re joined by the best Web3 wallets too.”

Phantom’s Bitcoin support is already live in beta, allowing any Phantom wallet holder to activate Bitcoin compatibility within their app settings. Users can seamlessly import BTC, Ordinals, and BRC-20 tokens from any existing Bitcoin wallet onto the Phantom platform.

Expressing gratitude on Twitter, Phantom acknowledged Bitcoin’s foundational role, stating, “Without Bitcoin, there’d be no Solana, Ethereum, or Web3. And for that, we’re forever grateful for Bitcoin and thrilled to launch it (in ₿eta) on Phantom.” This move reinforces the symbiotic relationship between different crypto networks and emphasizes Bitcoin’s growing influence in the ever-expanding crypto landscape.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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