Will Tron CEO’s Attempt to Convince Buffett That Bitcoin Isn’t a Scam Succeed?

Will Tron CEO’s Attempt to Convince Buffett That Bitcoin Isn’t a Scam Succeed?

Every year since 2001, bidders have had the opportunity to “Power Lunch” with acclaimed investor Warren Buffett. This year, TRON founder, Justin Sun bid a recorded breaking $4.6 million to lunch with Buffett at New York steakhouse Smith & Wollensky to discuss crypto and bitcoin.

Sun, plus seven other invitees, will have the chance to sell the merits of blockchain technology. However, considering Buffett has gone on record to say cryptocurrency will end badly, will this lunch be enough to change his mind?

Sun Bids Record $4.6 million For Lunch With Buffett to Talk Bitcoin

The Glide Foundation is a San Francisco based charity that combats poverty and homelessness. According to their website, they seek to bring change through inclusion and spiritual connection. Their core values:

” … are rooted in empowerment, recovery and personal transformation. Our values inspire and guide our behaviors. They are the ground we stand on.

The “Power Lunch” was the brainchild of the late Susan Buffett, who previously volunteered at Glide. To date, the annual event has raised around $30 million for the charity. With this year’s bid smashing the previous record of $3.2 million, set by an anonymous party in 2018.

Is Buffett Is Getting Into Crypto?

As expected, news of a Sun-Buffett lunch divides opinion within the crypto community. On the one hand, by calling Bitcoin “rat poison squared,” Buffett has emerged as the poster boy for legacy ideals. But then again, as the world’s third richest man, his sway could be a turning point for the entire crypto industry.

The bitcoin price is up more than 100 percent against the U.S. dollar year-to-date (source: coinmarketcap.com)

And while some say this is an indication that Buffett is moving into crypto, and represents a major coup for Sun, the outcome of past “Power Lunches” have rarely been so direct. With 2010 & 2011 winner, Ted Weschler being the only known case who ended up working for Buffett, as a portfolio manager.

All the same, those who talk about their lunch with Buffett all speak highly of the experience. A uniform theme throughout has been Buffett’s timeless advice, which centres on integrity in business, saying no, and the now cliched “doing what you love.” 2007 winner, Mohnish Pabrai said:

“…we had this discussion about truth, and honesty, integrity. And just how Mr. Buffett approached it. And he talked about how he and Mr. Munger use an internal yardstick. And he used a very funny example. He said, ‘Would you prefer to be the greatest lover in the world and known as the worst, or would you prefer to be the worst lover and known as the greatest?’ And he said, ‘If you know how to answer that correctly, then you have the right internal yardstick.’ And I think to me that was one of the big takeaways.”

Can Sun Convince Buffett About Bitcoin?

The mainstream news coverage has given Sun a platform with which to state his case. In a CNBC interview, he spoke about wanting to integrate the old world with the new, he said:

“I want to become the bridge between the institutional investor, and also financial institutions, and traditional investors like Warren Buffett, between the crypto community and also the blockchain industry. So that’s why I also want to bring seven leaders of the blockchain industry to communicate with Warren Buffett about blockchain technology, and the opportunity behind it.”

The interviewer went to question Sun about Buffett’s negative attitude towards cryptocurrency. To which Sun extended a sympathetic response, claiming that Buffett has been mis-informed by a biased media. And that the “Power Lunch” represented an opportunity to put that right.

Above all, Sun was aware enough to acknowledge the difficulty of the task ahead of him. On changing Buffett’s mind about Bitcoin, he said:

“I think it’s too much to change his mind on Bitcoin in a three hour lunch. But definately we will offer him a different opinion on Bitcoin and blockchain technology.”

The post Will Tron CEO’s Attempt to Convince Buffett That Bitcoin Isn’t a Scam Succeed? appeared first on NewsBTC.

05.06.2019 / 08:50 57
Tron’s CEO Can Bring Seven to Bitcoin Cynic Buffett’s Lunch: Who to Bring? Tron’s CEO Can Bring Seven to Bitcoin
Bitcoin Hater Buffett To Endure Lunch With To-Be-Named Crypto Boosters On Monday, crypto history was made when Bitcoin hater Warren Buffett was
Bitcoin-Skeptic Warren Buffett to Host $4.37M Lunch With Tron Founder Bitcoin-Skeptic Warren Buffett to Host
On Monday Tron Founder Justin Sun excitedly tweeted that he had won an auction to have lunch with legendary investor Warren Buffett. Will Sun shill
Bitcoin Cynic Buffett is Having Lunch With Tron CEO Sun: Crypto in Stiches Bitcoin Cynic Buffett is Having Lunch
Tron founder Justin Sun has just revealed that he has secured a lunch meeting with Warren Buffett, known in crypto for his anti-Bitcoin (BTC)
Tron (TRX) Bounces 6%: Sun Secures Lunch With Bitcoin Hater Buffett Tron (TRX) Bounces 6%: Sun Secures
Tron Surges Off Crazy Announcement What the hell. Over the past few days, Tron (TRX) founder Justin Sun has been hinting that he was poised to drop a
Morgan Creek Digital Makes $1 Million “Buffett Bet 2.0” Crypto Wager Morgan Creek Digital Makes $1 Million
Inspired by a bet made by one of the biggest names in traditional investing, Morgan Creek Digital has proposed a $1 million wager of its own. Whereas
Has Warren Buffett Made a U-Turn on Crypto Investments? Has Warren Buffett Made a U-Turn on
For years now, Warren Buffett has been talking against cryptocurrencies, and Bitcoin especially, claiming that this technology is nothing more than a
Comments (0)
Add a comment
Comment on