Telegram CEO Pavel Durov says that he owns some toncoin

Quick Take

  • Telegram CEO Pavel Durov confirmed he owns toncoin and still owns bitcoin.

Telegram CEO Pavel Durov confirmed that he owns toncoin, the cryptocurrency adopted by the messaging app. The price of toncoin has risen from $1.34 to $1.38, up 3% since he commented on the matter today.

Durov said in his personal Telegram announcement channel that he had bought a quarter of the $270 million of newly issued Telegram bonds, making the point that he is reinvesting in the company.


The price of toncoin rose following his comment. Image: CoinGecko.

"Some people suggested I should have instead bought a house or a jet. But I prefer to stay focused on my work, without 'owning' anything (well, apart from Telegram, some Bitcoin and some Toncoin)," he added.

Durov has previously said he owns bitcoin. He spent around $1.5 million on 2,000 bitcoin a decade ago, which would be worth $60 million at current prices.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.