Tron Crypto Founder Wins $4.6 Mln Bid For Charity Lunch With Warren Buffett

Justin Sun, founder of cryptocurrency TRON, won the bid to have lunch with billionaire investor Warren Buffett, who is a well-known critic of the digital currencies.

In a letter posted on Medium, Sun said he sees this as a win for the entire blockchain community.

Sun, who is also the CEO of file-sharing company BitTorrent, will pay $4.6 million for the 20th charity lunch hosted by Buffett. The proceeds from the lunch will got to Glide Foundation for its efforts to help the homeless in San Francisco.

Buffett, who has always been against bitcoin, reportedly told CNBC’s Becky Quick that he was looking forward to the lunch.

Over the years, Buffett has maintained that he sees no unique value in Bitcoin, the world’s largest cryptocurrency. However, he has pointed to the potential in blockchain, the underlying technology behind all cryptocurrencies.

In a letter posted on Medium, Sun said that he sees the upcoming lunch with Buffett as an opportunity to seek mutual understanding and growth. He would invite other blockchain industry leaders to join for the lunch in New York.

Sun noted that Buffett has said repeatedly about his plans to invest in businesses in which he thinks there’s a long-term competitive advantage.

He said in the letter, “I believe we in the blockchain community are at the beginning of an era of immense technological and financial growth. I also 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.”

Sun’s digital token Tronix, known as TRON, is currently the 11th largest cryptocurrency with a market capitalization of about $2.24 billion, according to CoinMarketCap.com.

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