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Telegram Founder Reveals His Crypto Portfolio; Shills Telegram Bonds In A New Post

The Telegram owner Pavel Durov has revealed that his portfolio consists of crypto assets, which includes Bitcoin and Toncoin.

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Coingape Staff

Published 19 Jul, 2023 | 01:12:44 PM UTC

Telegram Founder Reveals His Crypto Portfolio; Shills Telegram Bonds In A New Post

Pavel Durov, the creator of the well-known Telegram app has disclosed his cryptocurrency holdings., the company’s creator, is reportedly worth $17.5 billion as of 2023. Durov does not think it is wise to invest in real estate or aircraft, but he does appear to believe in Bitcoin.

Bitcoin, Toncoin And Telegram Stocks

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

Toncoin, the cryptocurrency that the messaging service has adopted, was proven to be owned by Pavel Durov. Since he made his comment earlier today, the price of toncoin has risen from $1.34 to $1.38, an increase of 3%.

Durov has claimed in the past that he owns Bitcoin. A decade ago, he invested roughly $1.5 million in 2,000 bitcoin, which today would be worth $60 million.

CEO Shills Telegram Bonds

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

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.”

Additionally, according to Durov, his business last week issued $270 million worth of Telegram bonds to break even and fund expansion. The CEO of the company did not identify the bond’s investors, merely stating that they are “well-known funds with stellar reputations,” but the head of Telegram claimed to have bought a fourth of the bonds to support the platform’s expansion.

Recent years have seen rapid growth for Telegram despite the proliferation of new social services. Over 300 million new users have downloaded the app in the last 2.5 years, and 2.5 million new users sign up every day.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by

Coingape Staff

Published 19 Jul, 2023 | 01:12:44 PM

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