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.