Telegram Founder Holds Millions In Bitcoin & Fiat, Here’s Why

Telegram CEO Pavel Durov’s recent remarks on his Bitcoin and fiat holdings, evaluated to be in millions, has sparked a sense of bustle across the global crypto realm. In a recent interview, the Telegram CEO stated, “I’ve had a few hundred million dollars in my bank account or in Bitcoin since 10 years ago, and I haven’t moved them.” This reverberated a craze among crypto market traders and investors globally, stirring a whirlpool of speculations surrounding the motive behind Durov’s colossal holdings.

Durov Justifies Unmoved Holdings

In an interview with Tucker Carlson, the Telegram CEO stated that freedom remains Durov’s top priority, and the only investments that provide him with that sense of freedom are the millions of dollars in his bank accounts and in Bitcoin. To this, Durov added that buying real estate might bind someone to geographical locations, whereas purchasing a jet may restrict one’s time as it offers a lot of distractions. Aligning with which, the CEO avoids such investments, zeroing in only on BTC & fiat.

Durov stated that his holdings helped him realize the true essence of freedom, a definition that may be in contrast with many. Nonetheless, despite the CEO’s monk-like thinking, his platform, on the other hand, appears to be proliferating its global user base.

Notably, the Telegram user base recently neared the 1 billion mark, marking a monumental achievement for the social messaging app. Telegram is a Dubai-based entity founded by Russian entrepreneur Pavel Durov, following the shutting down of his social media platform, VK.

Also Read: Bitcoin Withdrawals From Exchanges Hit Record High, What’s Next?

Telegram User Base Nears 1 Bln: Brief Report

Durov recently stated that Telegram is potentially poised to cross the one billion active monthly users mark within a year, primarily attributing its growth to a “forest fire.” Further, Durov, boasting an estimated fortune of $15.5 billion, per Forbes, stated that certain governments attempted to exert influence on him, pushing him to sell the app.

However, he emphasized that the app, now boasting 900 million active users, should maintain its stance as a “neutral platform” and refrain from engaging in geopolitics. This, coupled with the abovementioned Bitcoin & fiat holding chronicle, magnetized significant attention to Telegram and its founder Pavel Durov, with market participants speculating over the company’s future optimistically.

Also Read: Coinbase Layer-2 Network Base Brings USD 26 Million Profit, Strong Outlook Ahead

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