Billionaire Telegram Founder Pavel Durov Holds $7 Million in Notcoin, Pledges to Hold Until 100x
Pavel Durov, the founder of Telegram, has received a generous donation from over half a million players of the viral Telegram-based clicker game called Notcoin.
The players donated a portion of their in-game coins to Durov as a gesture of gratitude for the messaging app that hosts the crypto game.
The donated haul has now surged in value to millions of dollars, and Durov has said he plans to hold onto the tokens until they experience a 100x increase.
In February, more than 552,000 players of Notcoin contributed a share of their in-game coins to Durov, resulting in him acquiring over 1.03 billion NOT tokens.
This accounts for slightly over 1% of the total Notcoin supply on The Open Network (TON).
As of this writing, the value of these tokens stands at approximately $7.3 million, though it was slightly lower at $6.8 million when Durov made the announcement.
Durov, with an estimated fortune of $15.5 billion according to Forbes, is not in dire need of the cash and has no plans to sell the tokens.
However, he has stated that if the value of the NOT token surges to $680 million, he will sell them to acquire additional servers for Telegram, further supporting the messaging app’s infrastructure.
1,030,383,291.36 Notcoin ($6.8M USD) were sent as donation to Pavel Durov and Telegram.
Thanks for everything you guys built.https://t.co/ZaBgB22yyg pic.twitter.com/8gmNjbBs3s
— Notcoin Ø (@thenotcoin) May 17, 2024
Notcoin, which launched as this year’s largest gaming token, debuted with a market capitalization of nearly $1.5 billion.
As is often the case with new cryptocurrencies, the value of NOT has experienced volatility since its launch, plummeting by 50% to its current price slightly above $0.007, according to CoinMarketCap.
Despite the
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