- Telegram’s founder, Pavel Durov, confirms he holds Bitcoin and Toncoin, although the exact amounts remain undisclosed.
- Durov has also invested in Telegram’s growth by purchasing about a quarter of the new Telegram bonds worth approximately $270 million issued this week.
Pavel Durov, A Cryptocurrency Investor
In a revelation that brings clarity to the cryptic world of cryptocurrency, Pavel Durov, the founder of Telegram, discloses his crypto holdings. According to Durov, his investment portfolio includes some Bitcoin and Toncoin. The 38-year-old technology entrepreneur, however, chose not to specify the extent of his investments.
In his own words,
“Some people suggested I should have bought a house or a jet. But I prefer to focus on my work without ‘owning’ anything (well, apart from Telegram, some Bitcoin and some Toncoin).”
This statement provides a glimpse into Durov’s investment philosophy, where he prioritizes his work and apparent cryptocurrency investments over traditional asset classes.
Telegram’s Recent Bond Issuance
Further, Durov has turned investor for his own platform, Telegram. This week, Telegram issued bonds valued at around $270 million to
“renowned funds with an excellent reputation,”
without naming any specific entities.
Durov himself has purchased “about a quarter of the new Telegram bonds,” making a substantial multi-million dollar investment in Telegram’s growth. The commitment displayed by Durov underscores his confidence in the potential of his platform and the strategic steps being taken for its advancement.
In spite of monetization gains, Durov admits that Telegram is yet to reach profitability. He attributes this to the platform’s increasing expenditure on storage space and traffic, crucial components of running a messaging service. As an entrepreneur who’s actively participating in the evolving world of cryptocurrencies, Durov’s insights into his crypto holdings and the business aspects of Telegram provide valuable perspective in understanding the dynamic interplay of technology and finance.