Telegram’s founder and CEO, Pavel Durov, has revealed that his considerable wealth and lifestyle do not stem from his successful messaging app, but from an early and massive investment in Bitcoin. During a recent interview with Lex Fridman, the tech entrepreneur shared details about his financial philosophy, confirming that the relationship between Pavel Durov and Bitcoin has been the foundation of his economic independence for over a decade.
Durov explained in a podcast that he acquired “thousands of bitcoins” in 2013, when the value of the pioneering cryptocurrency was around $700 per unit. This strategic decision has allowed him to stay afloat financially, covering his personal and operational expenses without needing to extract capital from Telegram. The revelation debunks speculation about whether funds from the popular messaging platform were used to pay for his activities, such as renting offices or his private travel.
Why did Durov bet on Bitcoin?
Beyond the obvious financial gain, Durov’s bet on Bitcoin is based on a deep ideological conviction. He considers digital assets like Bitcoin to be the real money, as they operate outside of government control. “Nobody can confiscate your Bitcoin. Nobody can censor you for political reasons,” he stated, highlighting the censorship and seizure-resistant properties that decentralized cryptocurrencies offer compared to fiat currencies.
This endorsement is not just a statement but a philosophy that has guided his business decisions. In the past, Durov and his team attempted to launch their own Blockchain, the Telegram Open Network (TON), believing that neither Bitcoin nor Ethereum was scalable enough for their hundreds of millions of users. Although the project was halted by regulators in the United States, the technology lives on today as The Open Network, demonstrating the continued commitment of Pavel Durov and Bitcoin to the ecosystem.
A vision for the future of the digital economy
Durov’s analysis of the future of the global economy is decidedly bullish for digital assets. In his view, as long as governments continue “printing money like there’s no tomorrow,” the value of cryptocurrencies with a predictable and finite supply, like Bitcoin, will continue to rise. In fact, he projected that the asset’s price could eventually reach one million dollars. For the CEO, the programmed scarcity of Bitcoin is its greatest strength, stating that “Bitcoin is here to stay.”
This perspective underscores the growing distrust in traditional financial systems and positions cryptocurrencies as a key store of value for the future. The strategy of Pavel Durov and Bitcoin has not only proven to be incredibly profitable, but it also sends a powerful message to the market about the viability and importance of digital assets. His success story reinforces the narrative of Bitcoin as a fundamental tool for financial sovereignty in the digital age, inspiring a new generation of investors.
