Telegram Founder Pavel Durov Stands by Bitcoin Despite Price Fluctuations
Telegram founder Pavel Durov remains bullish on Bitcoin despite its price fluctuations. He first invested in the cryptocurrency in 2013 and continues to maintain a high standard of living through his crypto income.
Durov bought his first Bitcoin for around $2 million when the price was $700 per BTC. He was not deterred when the price dropped to $200-$300 post-purchase. His confidence in Bitcoin's resilience and resistance to political pressure has only grown. Durov values Bitcoin as a model for future money.
In 2024, Durov's Telegram Open Network (TON) saw its native token, Toncoin (TON), reach an all-time high of $8.25. However, it has since fallen by over 67% to $2.68. Despite this volatility, Durov maintains his lifestyle through cryptocurrency income, with Telegram remaining unprofitable for him personally.
Durov's long-term prediction for Bitcoin's price is $1 million. His confidence in Bitcoin's potential, despite its price swings, is evident in his continued investment and advocacy for the cryptocurrency.
