Pavel Durov, the CEO and founder of messaging app Telegram, says that he bought Bitcoin in 2008 when it was still in its early stages and used those holdings ever since to finance his lifestyle.
“I was a big believer in Bitcoin since more or less the start of it. I got to buy my first few thousand Bitcoin in 2013, and I didn’t care much,” The Russian technology entrepreneur said On Tuesday, Lex Fridman will be hosting a podcast.
The store where he purchased the goods was mentioned. “local maximum,” Around $700 BTC was the price. “I just threw a couple of million there.”
Some people laughed at him after Bitcoin’s price dropped.BTCHe told them that the price of the stock had dropped to below $200 during this bear market. “I don’t care.”
“I’m not going to sell it. I believe in this thing. I think this is the way money should work. Nobody can confiscate your Bitcoin from you. Nobody can censor you for political reasons.”
Bitcoin helps Durov “stay afloat”
Durov claimed that his Bitcoin investments have been used to finance his lifestyle. “Some people think if I’m able to rent nice locations or fly private, it’s because I somehow extract money from Telegram,” “He said”
“Like I said, Telegram is a money-losing operation for me personally. Bitcoin is something that allowed me to stay afloat.”
He said that “it will come to a point when Bitcoin is worth $1 million,” Due to Governments “printing money like no tomorrow.”
“Nobody’s printing Bitcoin,” “It has been a long time since I’ve seen anything like it,” he added. predictable inflation And will be made to stop at some point. “Bitcoin is here to stay. All the fiat currencies remain to be seen.”
Durov on TON
Durov was a person who arrested a year ago In France, charged with Telegram Open Network was also mentioned as a way to facilitate crimes by Telegram users. It developed the network in 2018 and 2019, which is essentially a blockchain that can be used for messenger services.
Related: French officials pressured Telegram to censor Moldova election posts: Durov
Bitcoin (and Ether) was added to the list.ETH) were “not scalable enough to cope with the load that our hundreds of millions of users would create.”
This innovation is based on inherent scaling through “shardchains,” He said. Telegram was unable to launch the product despite developing it successfully. This is due to US regulatory requirements.
The Open Network project is now deeply integrated into the Telegram eco-system and has seen a surge in non-fungible (NFT) token adoption.
“TON has become, I think, the largest or the second largest blockchain in terms of daily NFT trading volumes.”
Toncoin, the network’s native currency (TONSince mid-2024, the price has dropped by 67%.
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Source: cointelegraph.com
