Telegram CEO says early BTC purchase was his only lifeline

Telegram CEO Pavel Durov said that an early investment in several thousand Bitcoin in 2013 was the key to surviving difficult periods, Cointelegraph reports. Speaking on a podcast, Durov stated that he has been a firm believer in Bitcoin's vision since its inception. He recalled purchasing around $2 million worth of BTC in 2013 when the price was approximately $700 and subsequently forgetting about the investment. Durov noted that he was unconcerned when people mocked him after the price later fell. He also clarified that while many believe he profits from Telegram, the business has only incurred losses for him, emphasizing that his past Bitcoin holdings were the sole reason he could endure financial hardship. Durov added that he believes Bitcoin's value will one day surpass $1 million because governments are printing money relentlessly. He explained that this is due to Bitcoin's finite supply and predictable inflation, which cannot be arbitrarily changed. He concluded that while the longevity of fiat currencies cannot be guaranteed, Bitcoin will exist forever.