News - Telegram founder opens up about his crypto holdings

By Sam Fröling

Telegram founder opens up about his crypto holdings

Bitcoin (BTC)
Investing
Telegram founder, opens up about his crypto holdings

Telegram, Bitcoin and Toncoin founder Pavel Durov says he has no large holdings.

Telegram founder Pavel Durov is apparently a crypto investor. The 38-year-old said he owns "some Bitcoin and some Toncoin." How much exactly he left open.

"Some people said I should have bought a house or a plane instead. But I prefer to concentrate on my work without 'owning' anything (well, apart from Telegram, some Bitcoin and some Toncoin)."

Telegram not profitable

According to Durov, Telegram issued bonds worth about $270 million this week to unspecified "well-known funds with excellent reputations." Durov himself "bought about a quarter of the new Telegram bonds and invested tens of millions in the growth of Telegram." The messenger service is not profitable, despite the increase in monetization, according to the entrepreneur. As a reason, he gave "higher costs for storage space and traffic."

Read also: Telegram is working on a crypto-swap feature

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