Pavel Durov, the billionaire founder of Telegram, has projected a staggering future for the world’s largest cryptocurrency, Bitcoin.
Speaking on the Lex Fridman podcast, Durov said he is convinced Bitcoin will eventually be worth $1 million per coin, a bold forecast rooted in his decade-long belief in digital assets.
Durov said he has been a strong supporter of Bitcoin since its early days. He purchased several thousand coins in 2013 at around $700 each, investing a few million dollars. While the cryptocurrency plunged below $200 soon after, he refused to sell.
Critics laughed at him during the downturn, but Durov insists that his long-term confidence in Bitcoin never faded.
“Nobody can confiscate your Bitcoin. Nobody can censor you for political reasons. This is how money should work,” he said.
Why Durov Sees $1 Million Ahead
For Durov, Bitcoin’s fixed supply makes it vastly different from government-issued money. With only 21 million coins ever to exist, he believes increasing demand will inevitably drive the price higher.
“Governments are printing money like no tomorrow. Nobody is printing Bitcoin,” he said. I believe it will come to a point when Bitcoin is worth $1 million.
His prediction reflects a broader trend among crypto advocates who view Bitcoin as a hedge against global inflation and political instability.
Notably, several other influential figures in the cryptocurrency and financial world, including BitMEX co-founder Arthur Hayes, Coinbase CEO Brian Armstrong, Eric Trump, the son of U.S. President Donald Trump, and Gemini co-founders Cameron and Tyler Winklevoss, have also suggested that Bitcoin could one day rise to the $1 million mark.
Bitcoin as His Lifeline
While many assume Telegram funds Durov’s lifestyle, the entrepreneur clarified that the messaging app has been a loss-making venture for him personally. Instead, he credits his crypto holdings with enabling his lifestyle, from renting luxury spaces to traveling privately.
“Bitcoin is what allowed me to stay afloat,” he said, dismissing claims that he extracts money from Telegram.
TON: A Parallel Blockchain Vision
Beyond Bitcoin, Durov also highlighted the progress of the Telegram Open Network (TON). Initially developed by Telegram between 2018 and 2019, TON was designed to address the scalability limitations of Bitcoin and Ethereum. However, U.S. regulators blocked its launch, forcing Telegram to step away.
Today, the project, rebranded as The Open Network, has become a cornerstone of the Telegram ecosystem. TON now powers NFT trading and decentralized applications, with its native cryptocurrency, Toncoin, becoming one of the top tokens by trading activity.
Although Toncoin surged to $8.25 in mid-2024, it has since dropped more than 67%. Still, Durov described the project as a major success, particularly in NFT adoption.
Past Legal Scrutiny
Durov’s remarks come just a year after his arrest in France, where he was accused of enabling criminal activities on Telegram. While those legal troubles cast a shadow on his public image, he continues to emphasize the platform’s neutrality and his personal belief in decentralized technologies.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
