Justin Sun, Tron Founder and BitTorrent CEO, won a bid to legendary investor Warren Buffett’s charity lunch for the Glide Foundation. Soon after the news broke out, the crypto-community was left wondering if the large sum of money was worth it, considering Buffett’s blatant hostility towards digital currency and the asset space.
However, Sun dismissed such concerns. In a recent interview with Yahoo Finance, Sun praised Buffett’s business strategies and stated,
“I have been a believer of long-time value strategies and I also make lots of money from these strategies, so this is like a payback for Warren Buffett”
Justin Sun hopes this lunch will be a bridge between the cryptocurrency community and traditional investors. However, Sun admitted that it might be “unrealistic” to convince Warren Buffett to buy cryptocurrency in just three hours.
The larger picture, according to Sun, is not just about Tron, but about the entire cryptocurrency ecosystem and blockchain technology. He further revealed that he wants to show Buffett the cryptospace’s recent developments and programs.
Sun had previously called the lunch “a unique opportunity” to explain the potential of the ecosystem, which is still in its formative years, to Warren Buffett and the world.
Sun paid $4.56 million for the charity lunch, with the revenue generated via ads from the San Francisco-based BitTorrent’s clients which is a communication protocol for peer-to-peer file sharing. It has nothing to do with cryptocurrency, the 29-year old crypto tycoon said.
Buffett has previously acknowledged the utility of the underlying blockchain technology. However, he hasn’t been very appreciative of Bitcoin, the digital currency built on the said technology. He had said,
“It’s a gambling device…there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it.”