Andy Yen confirmed that a debate is going on in ProtonMail company about their plans for Bitcoin holdings.
ProtonMail is a popular email service, which provides encrypted mail services. For the last 5 years, the company has been holding Bitcoin on its balance sheet. In 2017, This company started to accept Bitcoin, and in 2019 company confirmed that it was holding some of the received Bitcoin from the customers.
On 27 Dec, Forbes published an interview report with ProtonMail CEO and co-founder Andy Yen. In the interview, Andy said that a debate on Bitcoin holding is going on in the company & he is not sure whether the company will continuously hold Bitcoin in the future or not.
“There’s an internal debate: I don’t have the answer to that yet — I’m not sure if we continue to hold Bitcoin or not hold Bitcoin, ” ProtonMail CEO said.
ProtonMail Co-founder also shared his personal opinion on Bitcoin and said that people will not love those assets which crash 80% in a very short time and also people don’t support it because of the possibilities of fraud & scams.
“People are not going to have faith and confidence and trust in an asset class if it is frequently having 80% crash cycles. We need the crash cycles to be less and less severe over time and that’s just not happening,” ProtonMail CEO explained.
To fight against the issues associated with cryptocurrencies, Andy suggested enhancing Crypto regulatory policies. He also expressed opposition to regulation by lawmakers.
It is worth noting that, here future decisions of Bitcoin holding plans of this company will not impact Bitcoin use in the payment system.
To this date, the company accepts Bitcoin payment as an alternative payment option via the lighting network, which allows customers to pay in Bitcoin at almost zero transaction fees.
In 2018, a few rumours claimed that ProtonMail planned to launch its native token in the Crypto market but later the company officially denied all the rumours of new token or ICO project by this company.