The founder of the Telegram messenger, Pavlo Durov, shared his experience of investing in Bitcoin and his vision for the future of this cryptocurrency in an interview with Lex Fridman. Durov revealed that he became the owner of “several thousand bitcoins” back in 2013, when the price of one bitcoin was around $700.
This is reported by Finway
Bitcoin as a Tool for Financial Independence
After a significant drop in the value of Bitcoin to $200–$300 in 2014, many people expressed sympathy for Durov regarding his investment. However, he emphasized that he had no intention of selling the asset, as he views Bitcoin as a reliable means of preserving wealth that is not subject to government control or censorship. According to Durov, the profits from his investment in the first cryptocurrency enable him to maintain his lifestyle, including renting housing and traveling by private jet. He stressed that the Telegram messenger is not a source of personal profit.
“Some people 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.
Durov’s Forecast for the Future of Bitcoin
Pavlo Durov is convinced that Bitcoin has the potential for further significant growth and could reach a value of $1 million per coin. He argues this by pointing out that the issuance of Bitcoin is strictly limited, while governments around the world continue to print fiat currencies without restriction. Durov noted the predictable inflation of Bitcoin, which will eventually stop at a certain point, setting it apart from traditional currencies.
“Just look at the trends. Governments keep printing money endlessly. Bitcoin is not printed. It has predictable inflation that will stop at some point. It will remain. As for all fiat currencies — we’ll see,” said the founder of Telegram.
Additionally, Pavlo Durov is currently under judicial supervision in France following an arrest that took place in August 2024. He is required to appear before authorities every two weeks, and the date for the appeal hearing has yet to be determined.