Telegram founder and CEO Pavel Durov recently shared fascinating insights into his financial journey during an interview on the Lex Fridman Podcast. While many assume his wealth stems from the global messaging app Telegram, Durov revealed that Bitcoin has been the true foundation of his personal fortune for over a decade.
A Bold Bet on Bitcoin at $700
Durov explained that he first invested in Bitcoin back in 2013, purchasing thousands of BTC at around $700 each. At the time, he poured millions into the cryptocurrency — a move that raised eyebrows among friends and critics alike.
Despite market volatility, including Bitcoin crashing below $200 at one point, Durov never wavered. “I believe in this thing,” he said. “This is the way money should work.” He noted that he never sold a single Bitcoin, underscoring his long-term belief in the currency’s potential and principles.
Bitcoin, Not Telegram, Funds His Lifestyle
In a surprising revelation, Durov dismissed the idea that his wealth is linked to Telegram’s success. He described the messaging platform as a “money-losing operation”, stating that it does not fund his lifestyle. Instead, he credited Bitcoin for his financial independence.
Bitcoin, according to Durov, provides censorship resistance, security, and freedom from government control. These qualities, he said, are what make it so powerful — especially in a world where governments are “printing money like no tomorrow.”
Looking ahead, he made a bold prediction: Bitcoin could reach $1 million in value as global inflationary pressures mount and trust in fiat currencies declines.
TON Blockchain Gains Traction Despite Regulatory Hurdles
In addition to discussing Bitcoin, Durov also touched on Telegram’s blockchain initiative, TON (The Open Network). Despite facing regulatory roadblocks in the United States, TON has emerged as one of the most active blockchain networks today.
TON now ranks among the top blockchains for daily NFT trading volume, signaling significant growth and community engagement. The project has evolved beyond its early struggles and is now seen as a serious player in the decentralized ecosystem.
