Pavel Durov Says Bitcoin, Not Telegram, Funded His Lifestyle

     

Telegram CEO Pavel Durov has revealed that his financial stability comes not from his messaging platform, but from early Bitcoin investments he made more than a decade ago.

Durov Bought Thousands of Bitcoin in 2013

Speaking on the Lex Fridman Podcast, Durov said he became a believer in Bitcoin during its early years and purchased several thousand BTC in 2013 when the price was around $700 per coin.

“I just threw a couple of million there,” he said, adding that critics mocked him when Bitcoin later dropped below $200 during the following bear market. Despite the plunge, he never considered selling.

“I believe in this thing. This is the way money should work. Nobody can confiscate your Bitcoin, and nobody can censor you for political reasons,” Durov stated.

Bitcoin Keeps the Telegram Founder “Afloat”

The Russian-born entrepreneur clarified that his lifestyle – including renting luxury properties and traveling on private jets – is funded by Bitcoin, not Telegram’s revenues.

“Some people think I extract money from Telegram. In reality, Telegram has been a money-losing operation for me personally. Bitcoin is what has allowed me to stay afloat,” Durov said.

He also predicted Bitcoin’s long-term price trajectory, suggesting it could reach $1 million per BTC, citing governments’ excessive money printing.

“Nobody’s printing Bitcoin. Its supply is capped and inflation is predictable. Bitcoin is here to stay, while fiat currencies are uncertain,” he noted.

Durov on TON Blockchain and Its Growth

Durov also discussed the Telegram Open Network (TON), which the company developed in 2018–2019 as a scalable blockchain solution for Telegram’s massive user base.

He explained that Bitcoin and Ethereum lacked the scalability to handle hundreds of millions of users. TON’s key innovation, he said, was shardchain technology, enabling higher throughput.

Although U.S. regulatory hurdles prevented Telegram from officially launching TON, the project has since evolved independently as The Open Network, now powering NFT markets within the Telegram ecosystem.

“TON has become one of the largest blockchains in terms of daily NFT trading volumes,” Durov claimed.

TON’s native cryptocurrency, Toncoin (TON), reached an all-time high of $8.25 in mid-2024 before dropping over 67% from that peak.