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Finance

Bitcoin King: How Pavel Durov’s Early Bet Fuels His Life and Telegram’s Blockchain Ambitions

Durov’s Bitcoin from 2013 funds his life; Telegram is a “money-losing” app. TON now thrives in NFT space.

byAndres Castro

October 1, 2025, 8:46 AM

Executive Summary

Pavel Durov disclosed that his lifestyle has been funded primarily by his significant Bitcoin investment made in 2013, rather than the Telegram messaging application.

Durov maintains a strong long-term bullish outlook on Bitcoin, predicting it could reach $1 million due to its fixed supply and resistance to confiscation or political censorship.

Telegram’s blockchain project, TON, faced U.S. regulatory restrictions but now operates independently as The Open Network, deeply integrated within the Telegram ecosystem and gaining significant momentum in the NFT space.

The Story So Far

Pavel Durov’s long-standing conviction in Bitcoin, which he acquired in 2013 and used to fund his lifestyle as Telegram is a “money-losing operation,” underpinned his personal financial approach and the company’s venture into blockchain technology. This led Telegram to develop the Telegram Open Network (TON) to create a scalable solution for its user base, though U.S. regulatory restrictions ultimately forced TON to operate independently as The Open Network, now deeply integrated within the Telegram ecosystem.

Why This Matters

Pavel Durov’s revelation that his early Bitcoin investment funds his lifestyle, rather than Telegram’s profitability, underscores a prominent tech CEO’s deep conviction in cryptocurrency as a source of personal financial independence and a hedge against traditional finance. This also clarifies Telegram’s unique financial model, where its founder’s personal wealth, derived from crypto, sustains the venture. Meanwhile, the independent success and integration of TON within Telegram, despite regulatory setbacks, demonstrate the platform’s persistent, indirect influence in the evolving blockchain and digital asset landscape.

Who Thinks What?

Pavel Durov believes his significant Bitcoin investment, made in 2013, has been the primary source of funding for his lifestyle, viewing Bitcoin as the ideal form of money immune to confiscation or censorship, and holds a strong long-term bullish outlook for it.

Telegram, through its developed blockchain project TON, aimed to provide a scalable solution for its user base but faced regulatory restrictions in the United States, leading to TON operating independently as The Open Network, which is now deeply integrated within the Telegram ecosystem and shows momentum in the NFT space.

Telegram CEO Pavel Durov recently disclosed that his significant Bitcoin investment, made in 2013, has been the primary source of funding for his lifestyle, rather than the messaging application itself. Appearing on Lex Fridman’s podcast, Durov stated he purchased thousands of Bitcoin at approximately $700 per coin, holding onto the cryptocurrency through market fluctuations due to his strong conviction in its underlying principles.

Durov recounted acquiring his initial Bitcoin holdings in 2013, a period he described as a “local maximum” for the asset. Despite facing ridicule when Bitcoin’s price subsequently fell below $200, he maintained his investment, emphasizing his belief that Bitcoin represents the ideal form of money, immune to confiscation or political censorship.

The tech entrepreneur clarified that he personally views Telegram as a “money-losing operation” and that his Bitcoin holdings have allowed him to “stay afloat.” He expressed a strong long-term bullish outlook for Bitcoin, predicting it could eventually reach $1 million, citing governments’ propensity for “printing money like no tomorrow” in contrast to Bitcoin’s fixed supply and predictable inflation.

Telegram Open Network (TON)

Durov also discussed the Telegram Open Network (TON), a blockchain project developed by Telegram between 2018 and 2019. The initiative aimed to provide a scalable blockchain solution for Telegram’s vast user base, as existing cryptocurrencies like Bitcoin and Ethereum were deemed insufficient for the required transaction load.

However, regulatory restrictions in the United States prevented Telegram from launching TON. Despite the initial setback, the project, now operating independently as The Open Network, has become deeply integrated within the Telegram ecosystem. It has seen notable momentum, particularly in the non-fungible token (NFT) space, reportedly becoming one of the largest blockchains by daily NFT trading volumes.

The network’s native token, Toncoin (TON), hit an all-time high of $8.25 in mid-2024 but has since experienced a significant decline, falling more than 67% from that level.

Key Takeaways

Pavel Durov’s revelations underscore his long-standing faith in Bitcoin as a foundational asset for personal financial independence and a superior form of money. Concurrently, the evolution of TON highlights Telegram’s continued, albeit indirect, involvement in the broader blockchain and cryptocurrency landscape, adapting to regulatory challenges while fostering new digital economies within its platform.