The Telegram CEO said it had held hundreds of millions of dollars in "bank accounts or Bitcoin" for 10 years

According to The Block, in an interview that aired on Tuesday night, Telegram co-founder and CEO Pavel Durov said that he has held hundreds of millions of dollars in fiat coins or Bitcoin for the past 10 years. In response to a question about Telegram’s non-acceptance of venture capital funding, Durov said that the company wants to remain independent and that funding has never been an issue. "Since 10 years ago, I have hundreds of millions of dollars in my bank accounts or Bitcoin, and I haven’t done anything with it. I don’t own any real estate, private jets, or yachts. I don’t think this lifestyle is right for me. I prefer to focus on what we’re doing for Telegram. ”

Durov did not specify how small his holdings of Bitcoin and bank account balance each long. As of July 2023, Durov’s Crypto Assets holdings are reportedly worth up to $17.5 billion. However, Durov clarified that Telegram did accept some external funding after its bond issuance three years ago, and before that, they also had a Crypto Assets project to raise funds. But when it comes to equity in the company, Durov’s co-founder and brother Nikolai has not given up ownership, which they believe allows them to move faster and be more efficient.