Regardless of Market Slump,ProtonMail Clenches Bitcoin

ProtonMail, the encrypted email service provider, has announced its intention to continue accepting Bitcoin as a payment option. The company is also working on integrating other cryptocurrencies into their system.

Regardless of the market slump, ProtonMail has continued to be bullish on bitcoin. The company announced that it is now accepting bitcoin as a payment option. Read more in detail here: bitcoin bullish.

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Regardless-of-Market-SlumpProtonMail-Clenches-Bitcoin News about Bitcoin

Despite the entire market crash, ProtonMail, a highly secure email provider, refuses to sell its Bitcoins. Bitcoin (BTC) just hit a high of about $30,000 for the first time. Many people liquidated their crypto assets as a result of all the commotion in the market. For the last several days, all other cryptocurrencies have suffered the same fate as BTC.

ProtonMail’s BTC Decision 

Just a few hours ago, ProtonMail made an official announcement about its BTC holdings through Twitter. 

Holding certain assets outside of the conventional government-controlled banking system is necessary for responsible financial diversification. To ensure our independence, Proton will continue to #HODL a substantial part of our reserves in #Bitcoin.

May 21, 2021 — ProtonMail (@ProtonMail)

It also reposted a tweet from Bitcoinmagazine on the support for BTC holdings during this crisis time. ProtonMail believes that diversifying its funds outside of regulated bank systems is critical. Obtaining as many digital assets as possible is one such efficient method. Encashing on digital assets such as BTC, according to ProtonMail, would enable the business remain autonomous even in difficult times.  

ProtonMail isn’t the first company to make such a choice. MicroStrategy CEO Michael Saylor tweeted on Wednesday that the company’s 111,000 Bitcoin shares, valued at $4.5 billion, had been kept undisturbed and that it would never sell them. 

Since August 2017, ProtonMail has accepted Bitcoin as a form of payment. It also claimed in 2019 that it has not yet paid out the BTCs it has received as payments. ProtonMail now has approximately 2.2 BTC in its wallet, which is about $90,500. 

BTC’s Future

Bitcoin has experienced all of the market’s highs and lows during the last month, all of which were unexpected. It dropped all the way to approximately $33,000 after reaching a high of $59,428.07. Tesla stopping BTC payments, the carbon footprints created by over-mining of BTC, China’s recent official decision to prohibit any kind of BTC purchasing or trading, and much more have all been suggested as reasons for the decline. Market experts believe that Bitcoin’s price will drop to as low as $20,000 in the near future.

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Despite the recent slump in Bitcoin, ProtonMail has been able to hold on to their BTC. Reference: bitcoin 83k.

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