diff --git a/Cargo.toml b/Cargo.toml
index 64413ce8..e1801b8e 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -33,7 +33,7 @@ cc = { version = ">=1.0.64", optional = true }
 socks = { version = "0.3", optional = true }
 hwi = { version = "0.5", optional = true, features = ["use-miniscript"] }
 
-bip39 = { version = "1.0.1", optional = true }
+bip39 = { version = "2.0.0", optional = true }
 bitcoinconsensus = { version = "0.19.0-3", optional = true }
 
 # Needed by bdk_blockchain_tests macro and the `rpc` feature