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Proton CEO Andy Yen Undecided on Holding Bitcoin

Andy Yen CEO of ProtonMail

In a Forbes interview published on December 27, Andy Yen, CEO and co-founder of Proton, a company that offers the encrypted email app ProtonMail and various other services, stated that he is unsure whether his company will continue to hold Bitcoin.

Proton has held Bitcoin for at least five years and began officially accepting Bitcoin payments in 2017.

However, Yen expressed concerns over fraud, scams, and short-lived fads, such as the recent NFT bubble and the 2017 “ICO craze,” and argued that cyclical, short-lived interest in cryptocurrency leads to regular market spikes and crashes.

Yen called for stronger self-regulation within the crypto sector and expressed opposition to regulation by lawmakers.

Despite his skepticism towards Bitcoin as a held asset, Proton currently accepts Bitcoin as payment for its services and is reportedly in the process of adding Lightning Network payments.

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Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.