Can Warren Buffett Be Converted by Justin Sun to Embrace Crypto?

  • Yuri Molchan
    📰 News

    🌍🌟The world-famous investor is about to have a meal with Tron’s CEO and other leaders of the crypto industry – will it change Warren Buffett’s mind about crypto?👉🧠


Can Warren Buffett Be Converted by Justin Sun to Embrace Crypto?
Contents

The world-famous head of the Berkshire Hathaway fund, Warren Buffett, has been setting up lunches with himself, finding participants through an auction. One person can be a winner and then bring up to six or seven friends with them. The money paid at the auction goes to charity purposes.

This time the lucky winner was a major figure from the sphere that Warren Buffett basically despises – crypto. However, many bet that Sun, and those from the crypto industry he may bring along, will be able to change Buffett’s attitude towards crypto.

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Tron CEO is about to meet one of the world’s most influential financiers

The news of Sun winning the lunch with Buffett has gotten in the headlines of major media outlets recently. As U.Today reported earlier, Justin Sun revealed in an interview that the money he used to pay for the lunch – an astounding $4.5 mln – came from his BitTorrent revenue.

This has been the highest bid for a winner so far since 2000, when these lunches started.

Who is coming with Sun to meet Buffett?

Sun is allowed to bring up to seven other guests with him to lunch with Warren Buffett. From his earlier tweets it is clear that Sun intends to invite leaders of other crypto platforms and exchanges to join him.

So far from Twitter we know that Sun has invited CZ (Binance), Vitalik Buterin (Ethereum) and Charlie Lee (Litecoin). Binance’s CEO rejected the offer, saying that he would have to travel a long way, besides, it is unclear whether Vitalik and Charlie would also accept.

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Will Sun be able to convert Buffett?

Sun obviously believes he can change Buffett’s mind regarding crypto and stop him from calling it rat poison in the future.

Along with Bitcoin, Buffett still does not believe in the potential of Amazon and some other major companies that have succeeded. He does admit that blockchain has something to it, though.

Even if the Oracle of Omaha, as Buffett is often called, remains unconvinced to take the side of crypto, still the fact of Justin Sun winning this opportunity has gotten cryptocurrencies in the headlines of all major news editions and contributed to raising awareness among the globe’s population.

Cover image via u.today
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About the author

Yuri has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
Contents

Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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