Durov Discloses Crypto Holdings Worth $17.5 Billion as of 2023

The creator of the popular Telegram app, Pavel Durov, has disclosed his cryptocurrency holdings. Pavel Durov, the company’s founder, is reportedly worth $17.5 billion as of 2023.

Durov does not believe that investing in real estate or aviation is prudent, but he appears to have faith in Bitcoin.

According to Wu’s tweet, Durov only possesses a limited quantity of Toncoin (TON), the native cryptocurrency of Telegram’s Open Network Layer 1 blockchain that employs the PoS consensus process, Bitcoin, and Telegram stock.

The messaging service’s adopted cryptocurrency, Toncoin, was proven to be owned by Pavel Durov.

Since his earlier comment today, the price of toncoin has increased by 3%, from $1.34 to $1.38.

Durov has previously asserted ownership of Bitcoin. Before ten years, he invested approximately $1.5 million in 2,000 bitcoins, now worth $60 million.

In a Tuesday message on his official Telegram channel, Pavel Durov discussed the growth of the instant messaging service, noting that the app had more than 800 million monthly active users and more than 2.5 million daily signups earlier in the year.

“Durov claims that although the platform has not yet generated a profit, it is “closer to profitability in absolute numbers than its competitors such as Twitter and Snap.”

In addition, according to Durov, his company issued $270 million worth of Telegram bonds last week to reach profitability and finance expansion.

However, the chief of Telegram claimed to have purchased a quarter of the bonds to support the platform’s growth.

Despite the proliferation of new social services in recent years, Telegram has experienced accelerated growth.

In the past two and a half years, over 300 million unique users have downloaded the app, and every day, 2.5 million new users sign up.