Tron Founder Justin Sun Reveals How He Paid for His Much-Hyped Lunch with Warren Buffett


Tron Founder Justin Sun Reveals How He Paid for His Much-Hyped Lunch with Warren Buffett
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As reported by U.Today, Tron CEO Justin Sun won a charity dinner with Warren Buffett after forking out a whopping $4.5 mln (the highest bid ever).

During a recent interview with Yahoo! Finance, Sun revealed that he paid for the lunch with his revenue from BitTorrent Inc., which has nothing to with crypto.    

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Keeping expectations low  

Justin Sun revealed that turning the Oracle of Omaha, an avid Bitcoin hater, into a crypto enthusiast wouldn’t be easy. The crypto boss even calls this effort “unrealistic.”

It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies,” he claims.

Sun emphasizes that the main purpose of their three-hour-long lunch will be showcasing the “progress” of the cryptocurrency industry and, of course, Tron, the cryptocurrency that is about to surpass Ethereum by a total number of transactions.

Moreover, Sun sees this as an opportunity to express his gratitude to Buffett whose investment strategy helped the Tron CEO make his own fortune.

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Beyond cryptocurrencies

The most interesting part of the interview deals with the fact that Justin Sun, who rose to prominence in the mainstream media as “Crypto CEO,” actually paid for his dinner with the money he earned from BitTorrent.

It has like nothing to do with the cryptocurrency,” says Sun.  

Sun also claims that he has been a long-time investor in the stock market (in particular, he invested early in Tesla), which is why, according to Sun, they find a lot of things in common between crypto and the traditional market.

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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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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
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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
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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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