Imagine that it’s 2013, Bitcoin is still that quirky digital daredevil nobody quite trusts, and Pavel Durov, the mastermind behind Telegram, decides to step into the crypto chaos.
He scooped up thousands of Bitcoin at around $700 each, casually tossing in a couple of million dollars like it was pocket change.
Fast forward to today, Durov is using it to fund his lifestyle.
No Telegram ad revenue or fancy corporate cash, just pure Bitcoin mojo keeping him afloat.
Money that bites back
On the latest episode of Lex Fridman’s podcast , Durov spilled the beans.
Despite the rollercoaster ride, Bitcoin plunged below $200 after his big buy, he shrugged off the haters with a “I don’t care.” His philosophy?
Bitcoin is the future of money, immune to censorship, confiscation, and the usual government shenanigans. It’s money that bites back.
Telegram itself is a money sink for Durov. So if you ever wondered how he’s jet-setting or renting swanky spots, it’s not thanks to the messaging app.
Instead, his crypto stash is the financial flotation device keeping him above water.
With governments around the world seemingly printing money like it’s going out of style, Durov predicts Bitcoin’s price will hit the stratosphere, possibly a cool $1 million per coin.
Why? Because Bitcoin can’t be conjured out of thin air, it has a fixed supply and predictable inflation.
Fiat currencies? That’s a different story, still swimming in an endless sea of cash prints.
US regulations
Durov also touched on Telegram’s ambitious, but regulatory-sidelined adventure into blockchain called the Telegram Open Network.
Back in 2018 and 2019, Telegram created TON to support its hundreds of millions of users better than Bitcoin or Ethereum could, thanks to nifty tech known as shardchains that boosts scalability.
But US regulations threw a wrench in the works, preventing the official launch.
Now rebranded as The Open Network, TON thrives in the NFT space, becoming one of the top blockchains by daily NFT trading volume.
The smartest move
And while Toncoin, TON’s native token, jumped to a record $8.25 in mid-2024, it has since cratered by over 67%, proving even blockchain giants endure market mood swings.
So, in short, Pavel Durov’s Bitcoin gamble isn’t some side hobby after all. It’s pretty much the financial engine that fuels his life while Telegram burns cash like a rockstar’s credit card.
And with Bitcoin’s future looking like a rocket ready to launch, Durov’s early bet just might be the smartest money move he’s ever made.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
