During the overhyped meal with the Tron chief executive Justin Sun, which finally took place earlier this year, investment guru Warren Buffett did not say a single bad word about Bitcoin to the Tron CEO and his guests: eToro CEO Charlie Lee and other top reps from the blockchain sphere.
Warren Buffett changes his take
While talking to Justin Sun and the other top reps of the blockchain and crypto industries, Warren Buffett spoke his mind on several major issues.
The old school investment guru said that Bitcoin still has a long ways to go to fulfill the value of the blockchain. Therefore, he is certain that his grandson will inherit his fortune not in Bitcoin but in good-old US dollars.
(9/12) @WarrenBuffett feels #Bitcoin still needs a lot of work in order to capture the value of #blockchain. I told Mr. Buffett #Bitcoin is the currency for the next generation, Mr. Buffett smiled and said “I’m sure my grandson would rather inherit my wealth in $USD.” LOL!— Justin Sun (@justinsuntron) February 6, 2020
The DLT technology has great potential, reckons Buffett. A lot of the companies he has invested in, including JP Morgan, the banking giant, are studying blockchain and the opportunities it may offer. As per Justin Sun, the investment guru is curious to see how DLT will change the sphere of payments in the next decade.
(8/12) @WarrenBuffett believes there is great potential in #blockchain & lots of his portfolio companies are exploring it such as @jpmorgan. He is curious to see how #blockchain will play out in the payment industry in the next 10 yrs. I have lots of work in store for me!— Justin Sun (@justinsuntron) February 6, 2020
Investment guru speaks of Tesla
Being of a positive opinion of Elon Musk as an entrepreneur, Buffett thinks that Tesla shares are not the best asset to invest in at the moment – Tesla has too many competitors in the market who have a lot of cash and who will not go away, the investor believes.
(10/12) I’ve invested in @Tesla since 2012. @WarrenBuffett thinks @elonmusk is a great entrepreneur but he doesn’t think @Tesla is a good investment at this time cuz automobile industries have fierce competitions & all of @Tesla’s competitors w/ large cash reserves won’t quit.— Justin Sun (@justinsuntron) February 6, 2020