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Telegram Founder Durov Owns Crypto – Here's What He Holds

Wed, 07/19/2023 - 09:48
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Yuri Molchan
Billionaire Pavel Durov has revealed his crypto bags, saying he does not trust investing in traditional assets
Telegram Founder Durov Owns Crypto – Here's What He Holds
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Chinese crypto journalist and blogger Colin Wu has shared that the founder of Telegram App, popular with the crypto community, has revealed his crypto holdings.

The founder, Pavel Durov who is worth $17.5 billion as of 2023, according to Wu, does not believe in investing in houses or airplanes, but he seems to believe in Bitcoin. Per Wu's tweet, Durov owns only Telegram stock, Bitcoin and some Toncoin (TON) — the native crypto of Telegram's Open Network Layer 1 blockchain based on the PoS consensus mechanism.

Earlier this week, Durov raised a hefty amount of funds to support Telegram. The app gets around 2.5 million registered users on a daily basis, and over the span of the past 2.5 years, has seen an inflow of more than 300 million users. At the time of this writing, the app has more than 800 million monthly active users.

Telegram raises $210 million from investors

TechCrunch has reported that, this week, the aforementioned app managed to raise $210 million by selling bonds to investors. A quarter of these bonds were purchased by the founder himself, Pavel Durov. As for investors, he would not reveal their names, just stating that they are highly sophisticated, have "stellar reputations" and specialize in bonds investment.

Initially, the company issued bonds worth $270 million. Per Durov, Telegram remains unprofitable for him, and this fundraising round was aimed at gaining money to take the app closer to the break-even level. Over the last 10 years, according to Durov, he had used hundreds of millions of USD of his own money to keep Telegram afloat.

Elon Musk's New Tweet Gets Unexpected 'Bitcoin Response' From Michael Saylor: Details

Here's what crypto Elon Musk holds compared to Durov

In his earlier tweets, tech innovator, owner of Twitter and Tesla CEO Elon Musk confessed that he holds Bitcoin, Ethereum and Dogecoin.

In early 2021, Elon Musk announced that Tesla acquired $1.5 billion worth of Bitcoin and put it on its balance sheet. An announcement about Tesla beginning to accept the flagship crypto for its e-cars followed from Musk.

That pushed the Bitcoin price up but did not last long, however, as the Tesla chief tweeted that BTC payments were halted over his concerns about proof-of-work mining harming the environment. Musk promised that the company would resume accepting Bitcoin as soon as miners would begin to use renewable energy sources and make mining at least 50% green. Per Michael Saylor, this goal was reached back in 2021.

By now, Tesla has sold its Bitcoin holdings, but instead, Tesla and another company of Elon Musk's — SpaceX — accept DOGE for their merchandise. Musk has never mentioned whether he still holds Bitcoin, but it seems that he definitely continues to hold Dogecoin.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at