Tron CEO Pays $4.5 Million to Give Warren Buffett His Best Crypto Pitch

Journalist:
June 3, 2019

By CCN: In a frankly incredible turn of events, crypto hater Warren Buffett is going to have lunch with Justin Sun – not that he has any choice in the matter. The Tron founder won Buffett’s GLIDE charity auction with a record $4.5 million bid.

Tron Founder Pays $4.5 Million for Warren Buffett Pow-Wow

To make matters worse for the billionaire who once called Bitcoin “rat poison squared,” TRX’s Sun is going to bring along a bunch of his blockchain pals for the ride.

Never one to miss an excellent PR opportunity, Sun posted a lengthy open letter to the crypto community. In this Medium post, he opines on his respect for Warren Buffett and his determination to convince the old-school billionaire that blockchain is the future.

“I’m a long-term believer (and certainly a big fan) of Buffett and his long-term value investing strategy. As some of you might know, the CEO of Berkshire Hathaway has said publicly; he sees no “unique value” in Bitcoin, the world’s largest Cryptocurrency. Yet, he has pointed to the potential in blockchain, the underlying technology behind all Cryptocurrency.”

Naturally, what we are all dying to know is who Mr. Sun plans to take with him. In his post, he suggests that he may look to the crypto community for advice.

“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.”

This could be really fun. We all know that if the internet is given the choice, we are going to see John McAfee sitting next to Warren Buffett. I’m not sure Google’s servers could take that.

Warren Buffett Unlikely to Shift His Stance on Cryptocurrency

Can Justin Sun change Warren Buffett’s mind on cryptocurrency? Probably Not. | Source: AP Photo/Nati Harnik, File

From a more serious perspective, this couldn’t be a more compelling story-line. If Warren Buffett believes that Bitcoin is worthless and backed by nothing, what on earth will he think of Tron?

With an eye-watering supply cap, and a value of a few cents at best, Buffett might consider it the equivalent of a penny stock. Despite its ascent into the top tier of the crypto market, it’s safe to say that Justin Sun and his Tronics have never appeared on the billionaire’s radar.

Charity lunches are usually relatively loose affairs. Just throw a few general tips at the businessman or woman who has written off some taxes for a good photo-op. This time, however, Warren Buffett is going to be sitting down with a bunch of hardline crypto-heads. These guys will be ravenous for any word of approval to take back to their supporters.

We all know what the golden ticket here for TRX is. It’s a headline like “Warren Buffett Sees Value In Tron Blockchain.” Sun’s probably not going to get that, but fair play to him for trying. Ultimately, let’s hope he takes John McAfee so we can at least get some shots of JMac shilling “Freedom Coin” to a nervous-looking Buffett.

This article was edited by Josiah Wilmoth.

Francois Aure @bullishtulips

Financial speculator living in the hills in Los Angeles. J.D. but very much not a lawyer. Favorite trading books are anything written by Jack Schwager. Email: bullishtulips@gmail.com, Twitter: @bullishtulips