Telegram Founder Pavel Durov Eyes Bitcoin at $1 Million Valuation
Pavel Durov, the visionary founder and CEO of Telegram, has made a resounding long-term prediction for Bitcoin, asserting that the cryptocurrency is destined to reach a staggering $1 million. Speaking recently on the Lex Fridman Podcast, Durov outlined his deep-seated conviction, rooted in both personal experience and a philosophical understanding of Bitcoin's fundamental value proposition.
Durov's Unwavering Conviction and Rationale
Durov's confidence in Bitcoin stems from his early engagement with the asset, revealing he first acquired several thousand Bitcoins in 2013 when the price hovered around $700. His steadfast refusal to sell, even during market downturns, underscores a belief that transcends short-term market fluctuations. At the heart of his argument is Bitcoin's inherent resistance to censorship and its fixed supply, a stark contrast to traditional fiat currencies that governments can endlessly print, leading to devaluation. For Durov, Bitcoin represents the "ultimate means of exchange," offering an unparalleled degree of autonomy from governmental interference and unpredictable monetary policies. He posits that while governments inflate their currencies "like no tomorrow," Bitcoin's predictable inflation schedule and eventual hard cap make it a superior store of value, destined to endure.
Telegram's Crypto Embrace and Bitcoin's Future
Durov also drew a clear distinction between his personal investment in Bitcoin and Telegram's operational finances, emphasizing that his lifestyle has been sustained by Bitcoin's appreciation, not profits from Telegram, which he describes as a "money-losing operation" for him personally. This long-term horizon on Bitcoin has remained unchanged since his initial purchases over a decade ago. Notably, his $1 million prediction coincides with Telegram's growing integration of the TON ecosystem, which includes Toncoin-based payments and revenue sharing for channel owners. This strategic move, expanding crypto functionality to Telegram's mini-app economy and advertising platform, hints at a broader vision for mainstream crypto adoption within a massive user base. Durov firmly believes that Bitcoin is "here to stay," urging observers to simply "look at the trends." As of press time, Bitcoin traded at $114,372, making Durov's ambitious target a focal point for future market speculation.
