Proton Mail claims it has been HODLing user paid Bitcoin since the beginning

Encryption and privacy have been a cause for concern amongst the public after the multitude of data leaks and hacks. Proton Mail, the encryption-based email service, has been a vital proponent of this cause and even accepts Bitcoin as a form of payment on its platform. In a recent tweet, Proton Mail stated that the company has not spent any of its Bitcoin but instead had been HODLing it since the beginning.

The mailing service had said this as a reply to a user thread who were discussing the pros of HODLing Bitcoin and not spending it. SwordS, a cryptocurrency user had tweeted:

“Just paid my @ProtonMail invoice with #btc I’m feeling secure and HODL guilty all at once.”

To this, Proton Mail replied:

“No worries, we will HODL for you (we actually don’t sell our BTC and haven’t for years).”

Proton Mail claimed that they could not reveal a lot of proof as that would result in the company disclosing too much information on its inner workings. The service has been accepting BTC payments since 2014 and official has added that the cryptocurrency deposits played a vital role in shaping the company during the PayPal issue.

Back in 2014, PayPal had shut down Proton Mail’s account, thereby freezing over $270,000 in total assets. Andy Yen, the co-founder of Proton Mail, had addressed the issue back then by saying:

“While the $275,000 ProtonMail has raised in the past 2 weeks is a large amount, it pales in comparison to many other crowd funding campaigns that have raised sums in excess of $1,000,000 so we can’t help but wonder why Proton Mail was singled out. When we pressed the PayPal representative on the phone for further details, he questioned whether Proton Mail is legal and if we have government approval to encrypt emails.”

Proton Mail is one of the few organization has taken the digital asset market in stride and remains bullish of cryptocurrencies such as Bitcoin. At press time, the world’s largest cryptocurrency was trading for $8564.50 with a total market cap of $154/625 billion. Bitcoin held a 24-hour market volume of $17.986 billion after a 0.11 percent drop in value during the 24-hour time frame.

A majority of the cryptocurrency community has applauded Proton Mail for its continuous support towards Bitcoin and the rest of the digital asset industry. Some customers even recommended others to ditch services such as BitPay and “implement BTC Pay server or Open Node to accept real BTC and LN.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.