Telegram founder and CEO Pavel Durov disclosed that he has relied on his early bitcoin investment to maintain his lifestyle, rather than extracting funds from Telegram.
Early bitcoin conviction
Durov explained on the Lex Fridman podcast that he purchased several thousand bitcoin in 2013 at around $700 each, investing a few million dollars.
Despite a subsequent price crash to below $200, Durov remained unfazed.
He recounted his mindset at the time:
“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.”
Bitcoin as a financial lifeline
Durov clarified that his personal wealth does not come from Telegram, calling the messenger a “money-losing operation” for him. He credited bitcoin for his financial stability:
“Bitcoin is something that allowed me to stay afloat.”
He predicted that governments’ ongoing money printing could eventually push bitcoin to $1 million, noting:
“Nobody’s printing Bitcoin.”
Durov also mentioned bitcoin’s predictable inflation and capped supply as core strengths, saying:
“Bitcoin is here to stay. All the fiat currencies remain to be seen.”
