Telegram CEO and billionaire Pavel Durov has reportedly revealed the crypto assets he invests his money in. Colin Wu - a Chinese crypto journalist sha
Telegram CEO and billionaire Pavel Durov has reportedly revealed the crypto assets he invests his money in. Colin Wu – a Chinese crypto journalist shared this information on his official Twitter page @Wu Blockchain stating that Durov has revealed his crypto holdings.
According to his tweet, the billionaire founder believes contrary to people’s opinion of investing in houses and airplanes, rather, he only invests in digital assets. Wu shared that Durov only invests in Telegram stocks, some Bitcoins, and some Toncoin.
Telegram CEO Pavel Durov stated that while some people suggest investing in houses or airplanes, he personally owns nothing except for Telegram, some bitcoins, and some Toncoin. This week, Telegram raised $210 million through a bond issue, with Pavel Durov personally buying…
— Wu Blockchain (@WuBlockchain) July 19, 2023
For context, Toncoin (token ticker $TON) is the native cryptocurrency of the Telegram Open Network and is used in staking within the Proof-of-Stake (PoS) consensus mechanism.
According to reports, Telegram is the third-most downloaded social media app worldwide. The app has an estimated 1.068 billion total users and 800 million active monthly users in 2023. Also, Telegram gets about 2.5 million registered users daily.
$210 million raised by Telegram through bond sales
Meanwhile, TechCrunch reported on July 18 that the giant social media giant succeded in raising $210 million this week from a number of investors. Interestingly, its founder Pavel Durov was one of such investors. Per the report, Telegram raised the funds by issuing bonds worth $270 million.
Furthermore, the report also shows that about a quarter of the new Telegram bonds were purchased by Durov who revealed that he has spent hundreds of millions to keep the app operational over the years.
In addition, Telegram did not disclose the identity of other investors, instead, they were described as “highly sophisticated global funds” with “stellar reputations” who are known for investing in bonds.
The goal of this fundraising campaign, according to Durov, was to raise money to bring Telegram’s profitability closer to the break-even point. Telegram is still not profitable for Durov.
Toncoin (TON) price today
According to live data from CoinMarketCap, Toncoin is currently trading at $1.37. The price is up 1.55% in the last 24 hours. What’s more, the TON was launched in 2018 and it is ranked #17 on the global cryptocurrency market chart with a live market cap of $4,685,363,852 ($4.6 billion).