 
 
Telegram CEO Pavel Durov has confirmed sizable Bitcoin holdings, pointing to a timely investment in the asset as a “wise” financial decision. Durov disclosed that he splurged millions on BTC back in 2013 while predicting the asset to skyrocket to $1 million in the near future.
A Firm Belief In Bitcoin Since 2013
Pavel Durov, Telegram’s founder, has revealed that he invested in Bitcoin during the early years of the cryptocurrency, scooping up BTC at low prices. Durov disclosed his early purchases in an interview on the Lex Fridman podcast, expressing a firm belief in the future of the largest cryptocurrency.
The Telegram CEO noted that his first Bitcoin purchase was back in 2013, splurging a couple of million on the cryptocurrency. At the time of Durov’s purchase, one BTC traded hands for $700, with the tech entrepreneur doubling down on his holdings.
However, weeks after his purchase, the Bitcoin price tumbled below $200 in a lengthy crypto winter, threatening to shake Durov’s resolve. Amid a wave of criticism from close associates, the Telegram CEO showed a firm belief in Bitcoin’s future, opting to hold his assets through the bear market.
“I’m not going to sell it. I believe in this thing,” said Durov. “Nobody can confiscate your Bitcoin from you. Nobody can censor you for political reasons.”
 
Since Durov’s 2013 investment, the price of Bitcoin has surged by over 12,000% to reach an all-time high of over $125,000. Durov noted that his early Bitcoin investments primarily fund his lifestyle, allowing him to fly private jets and stay in exotic locations.
He shut down claims that Telegram is the main reason for his financial security, noting that the social media platform is essentially “a money-losing operation.”
For his long-term outlook, Durov expressed bullish sentiments for Bitcoin on the Lex Fridman podcast. He disclosed that Bitcoin will be worth at least $1 million in the future, buoyed by its inherent scarcity and excessive fiat currency printing by governments.
“Nobody’s printing Bitcoin,” said Durov. “Bitcoin is here to stay. All the fiat currencies remain to be seen.”
Apart from his firm belief in Bitcoin, Durov has thrown his weight behind the Telegram Open Network (TON), a layer-1 blockchain designed for high-speed transactions and scalability. Since its launch, TON has found success with non-fungible tokens (NFTs), reaching an all-time high of $8.25 back in mid-2024.