Last week, the CEO of TRON Justin Sun won a bid to sit down with the American business titan Warren Buffett, for a charity lunch hosted by the man himself.
I officially announce I’ve won the record-setting 20th-anniversary charity lunch hosted by @WarrenBuffett. I’ll also invite #blockchain industry leaders to meet with a titan of investment. I hope this benefits everyone. #TRON #TRX #BTT #BitTorrent pic.twitter.com/EMZ4TMhgpR— Justin Sun (@justinsuntron) June 3, 2019
Sun put in a bid of $4.5 million to have the chance to sit down with Buffett and he intends to make the most of it as he has said he wants to invite some industry figureheads to the lunch in order to persuade Buffett on the benefits of cryptocurrency.
“To aid in the conversation and support the overall cryptocurrency and blockchain community, I will invite several industry leaders — with your input — to accompany me to New York City for the lunch.”
Rocking up Finance
This whole fiasco between Sun and Buffett rocked the finance world and specifically Wall Street when he made the winning bid for the coveted lunch with the billionaire investor Warren Buffett. Sun didn’t just catch the attention of Wall Street and the community but Becky Quick of CNBC too.
Sun recently spoke with Quick on CNBC’s Squawk Box in regards to the lunch where he had a lot to say on why he made such a big bid for a lunch with the entrepreneur.
Speaking to Quick, Sun said:
“I want to become the bridge between the institutional investor and also financial institutions [and] traditional investors like Warren Buffett between the crypto community and also blockchain.”
Over what will be a three-hour(ish) lunch with Buffett, this is going to be a lot to go through. This will be especially so due to the way that the investor has spoken on Bitcoin in the past. That being said, Berkshire Hathaway’s CEO will be outnumbered on his opinions on bitcoin (and crypto in general).
Sun plans to “communicate with Warren Buffett about blockchain technology and the opportunity behind it.” In the crypto space, Buffett is known for once calling Bitcoin ‘rat poison’, but despite this, Sun defends the billionaire.
“I’m thinking Warren Buffett just doesn’t have the right source for the blockchain industry news and he is misled by the media most of the time. So that’s why we want to have lunch with him, communicate with him – in these 10 years, since 2009, how much progress we have made.”
Gerelyn Terzo for CCN argues this saying that he believes Buffett slates bitcoin because he “doesn’t understand it and he feels threatened by it.” He continues saying, “to flippantly blame the media as a whole is irresponsible.”
Even so, Sun doesn’t expect to change Warren Buffett's mind on Bitcoin in just three hours however he does say:
“We will offer him a different opinion on bitcoin and blockchain technology.”
According to the interview, Sun actually looks up to Buffett as a source of inspiration.
According to Terzo, The first rung on the ladder of the TRON founder’s strategy reflects this:
“I have been a long time believer in the value investment strategy. I’ve also made [a] … fortune from Warren Buffett inspiration. So basically, I want to just pay back to Warren Buffett for his inspiration.”
Warren Buffett might not have seen the interview with Quick and Sun but I’m sure that Sun will mention something about this when they sit down for lunch.
A New Sun Rises
Since winning the bidding war, Sun has shown a completely different side to himself. It seems Sun is planning to invite one of TRON’s rivals, Vitalik Buterin of Ethereum. Charlie Lee of Litecoin is also getting an invite. If these three key figures in blockchain and crypto can’t persuade Buffett about Bitcoin then who can?