Bitcoin (BTC) Integration into Lace Wallet Sparks Optimism for ADA Holders

Cardano (ADA) founder Charles Hoskinson has announced the integration of Bitcoin (BTC) into the Lace wallet.

The founder of Cardano (ADA) has announced the integration of Bitcoin (BTC) into the Lace wallet.

Taking to X, Charles Hoskinson delivered the news of the leading digital currency’s arrival with just two sentences.

"You can now use Bitcoin with Lace. Welcome home, Bitcoin," he wrote.

You can now use Bitcoin with Lace. Welcome home, Bitcoin

— Charles Hoskinson (@chainalysis) November 9, 2024

Notably, Lace is a crypto wallet developed by IOHK, one of the entities behind Cardano. The latest version of Lace 1.22 introduces Bitcoin Beta support, which means users can now store and manage their BTC directly in the Lace wallet.

This development was not possible before and is considered a major boost to the Cardano blockchain. And Hoskinson's words "welcome home" appear to symbolize the Lace ecosystem's acceptance of the leading digital asset.

Announcing the release of Lace 1.22!

This update brings major improvements to the wallet, including:

* Beta support for Bitcoin.

* Significantly faster syncing, especially for new users.

* Transaction data is now fetched in parallel for faster processing.

Download the latest version of Lace today!

— Input Output, Inc. (@inputoutputinc) November 9, 2024

This move also aligns with Cardano’s vision to enhance blockchain interoperability and potentially boost ADA’s value.

The last version of Lace 1.17.5 was released in late November 2024. That update improved syncing speeds and transaction data fetching capabilities, enabling seamless user interactions with complex blockchains.

The same is being anticipated for the latest version of Lace 1.22.

This news comes after Hoskinson recently offered a bullish announcement to the Cardano community. He stated that the original scaling roadmap for Cardano has been completed.

Great news, everyone! We've completed the original scaling roadmap for Cardano. This is a significant milestone for the entire community. We couldn't have reached this point without the dedication and support of our incredible team and the entire Cardano community. Together, we've overcome many challenges and achieved something truly remarkable. We're now prepared to take on the next stage of scaling Cardano to new heights. Stay tuned for more exciting updates!

— Charles Hoskinson (@chainalysis) November 7, 2024

This has sparked optimism among users that the native token might begin to experience an uptick in price outlook.

As of press time, the ADA price was changing hands at $0.7030, a 0.64% increase in the last 24 hours. Trading volume has also spiked by 67.57% to $28.53 billion within the same time frame.