I funded my lifestyle from Bitcoin, not Telegram: Pavel Durov

Pavel Durov, the CEO of Telegram, disclosed that he invested significantly in Bitcoin back in 2013, acquiring thousands of BTC at around $700 each. Durov expressed firm belief in Bitcoin, highlighting that despite market fluctuations, including a dip below $200, he refused to sell, viewing Bitcoin as a reliable form of money that is immune from confiscation or censorship. Furthermore, he clarified that Telegram is currently a loss-making venture for him personally, and it is his Bitcoin holdings that sustain his lifestyle. Durov forecasts that Bitcoin could reach a valuation of $1 million, attributing this potential rise to rampant money printing by governments. He also mentioned the Telegram Open Network (TON), created to handle the scaling issues presented by traditional blockchains, and though the project encountered regulatory challenges, it has become a significant part of the Telegram ecosystem, especially regarding non-fungible token trading.

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