Justin Sun, founder of the blockchain platform TRON and CEO of file-sharing company BitTorrent, will dine with Bitcoin-skeptic Warren Buffett. However, this did not come cheap – as Sun placed the winning bid on Buffett’s annual eBay lunch charity auction. Sun’s bid? A record-breaking $4,567,888.
Bitcoin-skeptic Warren Buffett will dine with crypto-enthusiast Justin Sun
Buffett has held this charity auction for the past 20 years. It is in support of San Francisco’s GLIDE Foundation, which seeks to support local poor and homeless. As such, the charity is likely thankful for Sun’s contribution.
Nevertheless, cryptocurrency fans are arguably even more excited over the crypto-skeptic Warren Buffett meeting with a major cryptocurrency proponent. Buffett is a legendary investor whose influence holds significant sway over other investors.
However, Buffett has been unapologetically negative towards cryptocurrencies. Buffett famously referred to Bitcoin as ”worse than rat poison squared”, to which the Bitcoin-advocate Max Keiser replied ”there is no bigger rat than Warren Buffett”.
Buffett has also complained that Bitcoin, and in extension all major cryptocurrencies, are “unproductive assets”. Consequently, it is clear that Buffett does not believe in cryptocurrencies.
In fact, Buffett was famously trolled for his cryptocurrency-averse stance last year, with a billboard pointing out that he has been ”wrong” about both Google and Amazon. However, Warren Buffett’s upcoming meeting with Justin Sun may be an opportunity for the billionaire investor to reconsider his views.
”Buffett will change his overall stance on cryptocurrency and blockchain”
It is clear that Sun is viewing the lunch as an opportunity to pitch blockchain technology and cryptocurrencies to Buffett. Sun can invite seven people to the lunch, and tweeted that he intended to invite blockchain industry leaders to dine with the famed investor.
“I’m looking forward to meeting a true pioneer in investing. I’m excited to talk to Warren Buffett about the promise of blockchain and to get valuable tips and insights from him about entrepreneurship and making bold bets on the future.”
What’s more, Justin Sun has also published an open letter to the cryptocurrency community regarding the Warren Buffett charity lunch. In it, Sun noted that he is hopeful that he can convince the legendary investor of cryptocurrency’s merits.
“I […] firmly believe that with the right communication and understanding, Buffett will change his overall stance on cryptocurrency and blockchain, allowing this new investment strategy to become integrated into his overall portfolio.”
Furthermore, a spokesperson speaking to Reuters said Buffett is “delighted” that Sun won the auction. and that Buffett is ”looking forward” to meeting with Sun.
Image Source: Yahoo Finance
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.