The founder of the Telegram messenger, Pavel Durov, shared in a recent interview with Lex Friedman that he began investing in Bitcoin back in 2013, purchasing the first “several thousand bitcoins” at a price of around $700 per coin. According to him, this investment has been key to ensuring his financial independence and lifestyle.
This is reported by Business • Media
Bitcoin as a Source of Financial Freedom
Pavel Durov emphasized that it is the profits from his Bitcoin investments that allow him to rent housing and fly privately, rather than Telegram. He pointed out that the messenger is not a source of income for him; on the contrary, it is a loss-making project. In 2014, when the price of the cryptocurrency fell to $200-$300, many sympathized with Durov over his investments. However, he remained steadfast in his position, viewing Bitcoin as the only means of preserving wealth that is not subject to censorship or confiscation.
“Some think that if I can rent nice locations or fly privately, it’s because I somehow extract money from Telegram. As I’ve said, Telegram is a loss-making operation for me personally. Bitcoin allows me to stay afloat,” Durov explained.
Future Predictions for Bitcoin
Pavel Durov expressed confidence that the first cryptocurrency has the potential to reach a value of $1 million. He justifies his position by noting that governments around the world continue to print fiat currencies en masse, while the issuance of Bitcoin is strictly limited by protocol. Durov believes that the predictable inflation of Bitcoin will eventually cease, allowing the cryptocurrency to retain its value in the long term.
He noted:
“Just look at the trends. Governments keep printing money without stopping. Bitcoin is not printed. It has predictable inflation that will stop at some point. It will remain. As for all fiat currencies — we will see,” said the founder of Telegram.
It is worth noting that in August 2024, Pavel Durov came under judicial supervision in France following his arrest. According to the obligations, he must report to the relevant authorities every two weeks, and the date for the appeal hearing has not yet been set.