Despite the extreme volatility leading to its price to plunge to nearly $30,000 on Wednesday, major privacy-centric email service ProtonMail is not giving up on Bitcoin (BTC).
The company has continued to hold a significant amount of Bitcoin in order to help the company stay independent as announced by ProtonMail on Friday via twitter.
“Responsible financial diversification requires holding some assets outside of the traditional government controlled banking system. That’s why Proton will continue to #HODL a significant proportion of our reserves in #Bitcoin to safeguard our independence.”
By announcing the news, ProtonMail echoes moves by companies like MicroStrategy whose CEO Michael Saylor announced Wednesday that entities under his control acquired about 111,000 Bitcoin, worth $4.5 billion at the time of writing. Those entities “have not sold a single satoshi, BTC forever,” Saylor stated.
ProtonMail introduced Bitcoin payments for ProtonMail subscriptions back in August 2017 to support the company’s commitment to principles of freedom and privacy. In 2019, ProtonMail announced that it had not cashed in any of Bitcoin it accepted as payment since the new payment option was adopted. ProtonMail has also been accepting Bitcoin for donations, with the currently listed BTC donation address having received a total of 2.2 BTC, or around $90,500.