Bitcoin Will One Day Replace Fiat: Pavel Durov

Telegram founder and CEO Pavel Durov has made a bold prediction: one day, governments around the world will be forced to stop printing money — and when that moment comes, Bitcoin will step in as the global currency.

“Nobody’s printing Bitcoin. Bitcoin is here to stay. All the fiat currencies remain to be seen.”

Long before today’s crypto boom, Durov quietly positioned himself for this shift. In 2013, while Bitcoin was still in its infancy, he bought several thousand BTC at around $700 each.

“I was a big believer in Bitcoin since more or less the start of it. I got to buy my first few thousand Bitcoin in 2013, and I didn’t care much.”

At the time, critics mocked him when Bitcoin’s price later collapsed below $200. But Durov never wavered.

“I’m not going to sell it. I believe in this thing. This is the way money should work. Nobody can confiscate your Bitcoin from you. Nobody can censor you for political reasons.”

Years later, those early purchases became his financial safety net. Durov admitted that while many assume his wealth comes from Telegram, the reality is very different.

“Some people think if I’m able to rent nice locations or fly private, it’s because I somehow extract money from Telegram. Like I said, Telegram is a money-losing operation for me personally. Bitcoin is something that allowed me to stay afloat.”

According to Durov, it was his decade-old Bitcoin stash — not Telegram’s revenues — that enabled him to sustain his lifestyle and keep pushing forward with his vision for the messaging platform.

From Bitcoin to TON

Beyond his Bitcoin holdings, Durov also touched on the Telegram Open Network (TON), the blockchain project first developed in 2018–2019. Although U.S. regulators blocked Telegram from launching it, TON has since grown independently and is now deeply integrated into the platform’s ecosystem.

TON’s breakthrough, according to Durov, lies in its use of “shardchains,” making it more scalable than Bitcoin or Ethereum for mass adoption.

Today, TON is among the largest blockchains by daily NFT trading volumes, though its native token, Toncoin, has fallen more than 67% from its 2024 peak of $8.25.

A Bitcoin World — But With Trade-Offs

Durov’s forecast of Bitcoin replacing fiat may sound radical, but it reflects a larger truth: trust in government-backed currencies is eroding under the weight of inflation and monetary mismanagement. In that environment, Bitcoin’s fixed supply and censorship resistance make it an increasingly attractive alternative.

Still, challenges remain. Volatility and scalability continue to stand in the way of Bitcoin’s mainstream use as a global currency. A Bitcoin standard could usher in financial independence and transparency — but it might also limit governments’ ability to respond to economic crises.

Durov’s conviction underscores a broader shift: digital assets are no longer experimental. They are at the center of global debates about the future of money. Whether or not Bitcoin truly replaces fiat, the trajectory is clear — the financial system is changing, and cryptocurrencies are here to stay.

And if Durov’s $1 million Bitcoin prediction proves true, the day may come when Bitcoin doesn’t just hedge against fiat failure — it replaces it.