1% of Bitcoin’s supply has been locked in the WBTC protocol

Cointelegraph

Published Jun 08, 2021 02:33AM ET

Updated Jun 09, 2021 04:40AM ET

One percent of Bitcoin’s circulating supply is currently tokenized as Wrapped BTC (WBTC), equating to nearly $6.2 billion worth of BTC.

The milestone was acknowledged by the product manager of crypto custody firm BitGo, Kia Mosayeri, who tweeted the news on June 7. BitGo is the custodian for the Wrapped Bitcoin protocol, which was launched its Bitcoin-backed ERC-20 token WBTC on Ethereum in January 2019.

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