By CCN Markets: Tron CEO Justin Sun will be accompanied by Litecoin creator Charlie Lee on his $4.6 million crypto power lunch with billionaire bitcoin skeptic Warren Buffett. Sun revealed on Twitter that he's thrilled to invite his "good friend Charlie" as his first guest…
By CCN Markets: Tron CEO Justin Sun will be accompanied by Litecoin creator Charlie Lee on his $4.6 million crypto power lunch with billionaire bitcoin skeptic Warren Buffett.
Sun revealed on Twitter that he’s thrilled to invite his “good friend Charlie” as his first guest at his July 25 lunch with Buffett. Sun says he’ll announce other friends who will join him soon.
Sun was barraged with kudos on his selection. Many agree that the affable Lee is an excellent choice of crypto ambassador on this epic lunch.
Twitter user “Tommy Mustache” reacted by posting a hilarious meme showing Buffett thinking to himself: “Bitcoin is only risky to those who don’t understand it.”
As CCN reported, Sun set July 25 as the date for his hotly anticipated lunch with billionaire investor Buffett. The $4.6 million that Sun bid at auction was the highest-ever paid for the annual charity lunch.
While previous Buffett lunches took place at a steakhouse in New York, Sun changed the venue to San Francisco this year. The move was done to spotlight a local charity that Buffett’s late wife had supported.
Anything Warren Buffett does generates instant headlines. Therefore, it’s no surprise that Justin Sun’s profile — along with that of the entire crypto industry — has been elevated by the barrage of media attention showered on this event.
As many in the crypto community remarked on Twitter, Litecoin creator Charlie Lee is a fantastic ambassador for the industry. Interestingly, the Litecoin price has been on a tear this year, soaring 357% against the US dollar during the past six months.
Year-to-date, Litecoin (LTC) has outperformed every one of the top 10 cryptocurrencies, including bitcoin, Ethereum, and EOS. The steady spike in Litecoin’s price is reportedly due to the anticipation of its block reward halving in two months.
Crypto assets based on proof-of-work (PoW) blockchain networks that involve mining undergo a mechanism called “halving” every four years. It’s an event that reduces the rate of the production of the assets by miners.
Litecoin is the only major cryptocurrency to match the performance of bitcoin since the 2017 bitcoin bull market.
Meanwhile, many in the crypto industry are getting more and more excited about the forthcoming Buffett lunch.
Sun confessed that it’s unrealistic to totally change Buffett’s mind about crypto but said he’s going to try anyway.
“It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies. But we want to show him the recent progress of cryptocurrency and blockchain technology.”
While many in the industry were initially concerned that Sun would use his lunch to only promote his Tron cryptocurrency, he reassured crypto fans that he will be a dogged ambassador for the entire ecosystem.
“It’s not only about Tron,” Sun says. “It’s about crypto and blockchain — the whole industry. Our mission is to decentralize the internet.”
This article was edited by Gerelyn Terzo.
Last modified: January 10, 2020 3:12 PM UTC