Telegram founder and CEO Pavel Durov says his belief in Bitcoin dates back more than a decade, and it has helped fund his lifestyle ever since.
Speaking on the Lex Fridman Podcast, the Russian tech entrepreneur shared that he first bought “a few thousand” Bitcoin in 2013. At the time, each coin was trading around $700.
When the price later crashed below $200 in the bear market, some mocked his decision. But Durov shrugged off the criticism, telling them: “I don’t care.”
“I was a big believer in Bitcoin since more or less the start of it. I just threw a couple of million there. 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.”
Pavel Durov
Durov: Bitcoin Will Outlast Fiat
Pavel Durov said his Bitcoin holdings have been the main source of funding for his personal lifestyle, countering the idea that his wealth comes from Telegram. He explained that his ability to rent luxury properties or travel privately is supported by his early investment in Bitcoin rather than company revenues.
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“Like I said, Telegram is a money-losing operation for me personally. Bitcoin is something that allowed me to stay afloat.”
Pavel Durov
He also predicted that Bitcoin could eventually reach a value of $1 million, pointing to the constant money printing by governments as a reason for the decline of traditional currencies. Unlike fiat money, Bitcoin has a fixed supply with predictable inflation and a clear endpoint for issuance. Durov stressed that Bitcoin is here to stay, while the future of fiat currencies is uncertain.
