Telegram CEO Pavel Durov, who was arrested in France and went through difficult times in recent years, made important statements about Bitcoin (BTC).
Speaking on Lex Fridman's podcast, the Telegram CEO said that he invested in Bitcoin early and that it was very important to him.
At this point, Pavel Durov said that early BTC investment was the only lifesaver for him.
Durov said that investing a few thousand Bitcoins early in 2013 was the key to getting through the difficult times he went through.
Durov stated that he has been a firm believer in Bitcoin's vision since its inception, adding that he purchased approximately $2 million worth of BTC in 2013 when the price was around $700 and then ignored his investment. He added that he wasn't bothered by people mocking him after the price later dropped.
“I have been a big believer in Bitcoin almost since its inception.
I bought my first few thousand Bitcoins in 2013 and didn't really care about it after that.”
He also explained that many people believe that he is making profits from Telegram but this is not the truth, the company is only making losses for him.
At this point, Durov emphasized that his past Bitcoin investment was the only reason he was able to withstand financial difficulties.
“As I said, Telegram is a money‑losing platform for me.
Bitcoin is something that keeps me afloat.”
Durov added that he believes that Bitcoin's value will one day exceed $1 million due to governments constantly printing money.
He explained that this is due to Bitcoin's limited supply and predictable inflation, which cannot be arbitrarily changed.
Durov stated that he concluded that the longevity of fiat currencies cannot be guaranteed, stating that Bitcoin will exist forever and adding, “Nobody is printing Bitcoin. Bitcoin is permanent. The future of all fiat currencies is uncertain.”
*This is not investment advice.