Telegram founder Pavel Durov has revealed that his personal wealth does not come from the messaging app, but from his Bitcoin holdings.
In a recent interview on the Lex Fridman Podcast, the Russian-born entrepreneur said his initial investment in Bitcoin over a decade ago helped him become financially independent.
“I’ve been a big believer in Bitcoin since its inception.” Durov said. “I bought my first few thousand Bitcoins in 2013 and didn’t really care about them. I just threw a few million there.”
At the time, BTC was around $700 per coin, close to its first major peak. Although the price has since fallen below $200, Durov said he is not worried. People ridiculed him when prices fell, but he said he remained confident in his beliefs. “I don’t care. I believe this.” he remembered.
He said the conviction was based on the fact that Bitcoin is a form of currency that can withstand censorship. “No one can confiscate your bitcoins from you. No one can censor you for political reasons.” he said.
Durov made it clear that his comfortable lifestyle, which includes flying privately, renting luxury real estate, and running Telegram’s massive operations, does not come from the company’s profits.
“Some people think that the reason I can rent a nice place or fly privately is because I somehow get money out of Telegram.” he said. “As I said earlier, Telegram is a loss-making business for me personally. Bitcoin has kept me afloat.”
Telegram, which is wholly owned by Durov, did not become profitable until 2024. Despite being one of the world’s largest messaging apps, Durov said it has never relied on intrusive advertising or selling user data.
“It took a lot of innovation to get to the point where we could generate revenue without resorting to questionable business activities that misuse users’ personal data.” he said.
The app currently makes money through premium subscriptions and developer tools such as in-app payments and blockchain-based mini-apps. In 2025, Telegram reportedly had 15 million paying subscribers and over $500 million in premium revenue.
Beyond personal wealth, Durov strongly believes in the long-term future of Bitcoin. He believes that if the government continues to print more money, it will reach $1 million per coin.
“The government continues to print money like there’s no tomorrow.” he said. “No one is printing Bitcoin” He also added that BTC has a fixed supply and issuance is controlled, so once the limit is reached, no more will be created.
Durov calls Bitcoin “the way money works,” praising its decentralization and limited supply. “Bitcoin is here to stay” he said. “All fiat currencies are not yet clear.”
He’s not alone in his confidence. There are other early BTC investors who held on to the coin through years of volatility. Mr. Durov’s belief in assets is what many in the community refer to as the “HODL” mentality: believing in long-term growth to weather recessions.
Durov’s story is closely tied to the evolution of Telegram and his personal challenges. He was arrested in France in 2024 on charges of aiding and abetting a crime via Telegram.
He has denied any wrongdoing and said the platform would rather exit the market than share user data with governments.
“Telegram has never shared private messages with anyone, including government or intelligence agencies.” Durov said.
“Do you hate privacy and think you should ban encryption in your country, like the EU is currently trying to do for all member states? Well, go ahead. We will exit this market.”
His stance on privacy has been the subject of both criticism and praise. He is one of the few technology founders who refuses to compromise when it comes to encryption and user independence.
Alongside his investment in Bitcoin, Durov also worked on Open Network (TON), a blockchain project originally aimed at powering the Telegram ecosystem.
Regulatory hurdles in the US prevented Telegram from launching TON directly, but it has since flourished as an independent, community-driven network.