Telegram Founder's Fortune: How Pavel Durov's 2013 Bitcoin Gamble Made Him Rich While Critics Laughed

Pavel Durov Reveals His Early Bitcoin Investment from 2013

In a surprising revelation, Pavel Durov, the founder of the messaging platform Telegram, has disclosed that his personal wealth stems primarily from Bitcoin investments made back in 2013 rather than from Telegram itself. Speaking on Lex Fridman's podcast, which boasts nearly 5 million subscribers, Durov shared that these early cryptocurrency investments have literally "kept him afloat" financially.

A Bitcoin Maximalist from the Early Days

When Bitcoin emerged in 2009, it quickly attracted technology enthusiasts looking for innovations in the digital space. By 2013, Pavel Durov had decided to invest in this new digital currency, purchasing thousands of bitcoins when the price was around $700 each. While this might seem like a modest amount by today's standards, it represented a significant investment at that time.

During his interview with Lex Fridman, Durov recalled how some of his close associates mocked him when Bitcoin's price later dropped below $200. His response was simple yet confident: "I don't care." He held onto his investment, explaining to anyone who would listen that he genuinely believed in the technology and had no intention of selling:

"I have no intention of selling it. I believe in this thing. I think this is how money should work. No one can confiscate your bitcoins. No one can censor you for political reasons."

Bitcoin: His Passport to Freedom

Over the years, Durov's investment in Bitcoin has proven to be exceptionally wise. As the price of BTC has skyrocketed, it has enabled him to fund his lifestyle independently of his business ventures:

"Some people think that if I can afford to rent nice places or fly private, it's because I'm somehow extracting money from Telegram. As I said, Telegram is a loss-making operation for me personally. Bitcoin is something that has kept me afloat."

During the interview, the Telegram CEO also shared his vision for Bitcoin's future. He boldly predicted that BTC would eventually reach $1 million, a forecast based on his observation of governments' unconstrained money printing:

"We'll get to the point where bitcoin is worth $1 million. Governments are printing money like there's no tomorrow. Nobody is printing bitcoins."

From TON to The Open Network

Durov also discussed the TON project, which Telegram launched in 2018. Despite having to abandon the project due to regulatory challenges, he expressed pride that the community took it over and rebranded it as "The Open Network." He noted that this blockchain had recently surpassed Ethereum in terms of NFT transaction volumes.

It's rare to hear Pavel Durov speak so candidly about his personal life and the source of his wealth, as he typically maintains a low profile when it comes to discussing himself. Generally, the Telegram founder prefers to address topics related to his professional activities.

Recently, Durov made serious accusations against French authorities, claiming they interfered in Moldova's legislative elections that resulted in pro-European victory. Evidently, Durov values his freedom of movement and speech—liberties he apparently secured thanks to his early Bitcoin investments.

This revelation adds another prominent name to the list of early Bitcoin adopters who recognized the revolutionary potential of cryptocurrency long before it entered the mainstream consciousness. Durov's story highlights how Bitcoin has not only created wealth for early investors but also provided them with financial independence and freedom from traditional systems.