Telegram CEO Holds Billions in Fiat Currency and Bitcoin

According to PANews, Telegram co-founder and CEO Pavel Durov revealed in an interview aired on Tuesday night that he has held billions of dollars in fiat currency or Bitcoin for the past decade. When asked about Telegram's refusal to accept venture capital, Durov stated that the company aims to maintain its independence and funding has never been an issue. 'Since 10 years ago, I have had billions of dollars in my bank account or Bitcoin, and I have not used it for anything. I do not own any real estate, private planes, or yachts. I don't think this lifestyle suits me. I prefer to focus on what we are doing for Telegram,' he said. Durov did not specify how much Bitcoin and bank account balance he holds. It is reported that as of July 2023, the value of the cryptocurrency held by Durov is as high as $17.5 billion. However, Durov clarified that Telegram did accept some external funding after issuing bonds three years ago, and before that, they had a cryptocurrency project to raise funds. But on the issue of the company's equity, Durov's co-founder and brother Nikolai did not give up ownership, they believe this allows them to act faster and improve efficiency.