Early Bitcoin Investment Secured Telegram CEO’s Financial Independence
Telegram founder Pavel Durov has revealed that Bitcoin, not Telegram’s revenues, has been the main source of funding for his lifestyle, thanks to an early investment made over a decade ago.
In a recent interview, Durov recalled purchasing “a few thousand Bitcoin” in 2013 when the cryptocurrency traded around $700 per coin. He admitted it was at a “local maximum” at the time, but he remained unfazed when the price later fell below $200.
“I’m not going to sell it. I believe in this thing. I think this is the way money should work. Nobody can confiscate your Bitcoin from you. Nobody can censor you for political reasons,” Durov said.
Bitcoin as a Lifeline
Durov explained that his Bitcoin holdings have allowed him to ‘stay afloat’ financially, dismissing speculation that his wealth comes from Telegram.
“Some people think if I’m able to rent nice locations or fly private, it’s because I somehow extract money from Telegram. Like I said, Telegram is a money-losing operation for me personally. Bitcoin is something that allowed me to stay afloat.”
He further predicted that Bitcoin could eventually reach $1 million per coin, citing the ongoing global trend of governments “printing money like no tomorrow.” Unlike fiat currencies, Bitcoin’s supply is capped, making it “here to stay,” Durov noted.
The Open Network and Future Vision
The discussion also touched on Telegram’s blockchain initiative. Durov emphasized that Ethereum and Bitcoin lacked the scalability needed to support Telegram’s hundreds of millions of users, which led to the creation of the Telegram Open Network (TON).
Although regulatory pressure prevented its official launch, TON has since evolved independently into one of the largest blockchains for NFT activity. Its native token, Toncoin, reached an all-time high of $8.25 in mid-2024 before retreating more than 60%.
Despite challenges, Durov’s remarks highlight his long-standing confidence in decentralized systems. Bitcoin remains his cornerstone investment, while TON continues to expand within the Telegram ecosystem.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.