Pavel Durov, the founder of Telegram, discussed his early experiences with Bitcoin on the Lex Fridman podcast. He recalled buying millions of dollars’ worth of Bitcoin in 2013 when the price peaked around $700, betting on its long-term value. 

By 2014, Bitcoin’s price had fallen to about $200, but Durov said he did not sell, expressing continued faith in the cryptocurrency. He emphasized Bitcoin’s censorship resistance, arguing that it cannot be confiscated from holders. Durov also claimed that Telegram is not profitable and that his personal living expenses are now funded by Bitcoin. 

He suggested that expenditures such as renting luxury venues and private jet travel are returns from early investments, rather than project financing. Looking ahead, Durov reiterated his belief that Bitcoin’s inflation is predetermined by its code and predicted the price could someday reach $1 million.

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