Pavel Durov is the founder and CEO of Telegram messaging app. He says that when Bitcoin was just starting out, he purchased it and now uses his Bitcoin holdings to support 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,” Russian technology entrepreneur said Lex Fridman podcast Tuesday.
“He added that he had bought the merchandise at the “local maximum,” Around $700 BTC was the price. “I just threw a couple of million there.”
He was ridiculed by some people when Bitcoin prices dropped.BTCThe price plummeted to less than $200, and he said, “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 stated that he used the Bitcoins he invested to support 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 was right to predict that “it will come to a point when Bitcoin is worth $1 million” The government “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 in TON
Durov is a man who has been accused of being arrested a year ago 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.”
Key innovation in this area was the inherent scaleability of “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) tokens.
“TON has become, I think, the largest or the second largest blockchain in terms of daily NFT trading volumes.”
Toncoin is the native token of Toncoin.TONThe price of a pound (£) reached an all-time peak at $8.25 by mid-2024, but it has fallen 67% since then.
Magazine: ETH co-founder moves $6M of ETH, crypto index ETF expands: Hodler’s Digest
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
