TRON Foundation CEO Justin Sun finally shared the highly-anticipated announcement that he has been hyping for the last week on Monday, revealing an expensive lunch date with crypto-hater and Berkshire Hathaway CEO Warren Buffett.
While we foolishly speculated that Sun was planning to announce some collaboration or integration with Apple, the ‘big’ news, as it turns out, is that the young billionaire has paid $4.5 million to join the 20th-anniversary charity lunch hosted by Warren Buffett.
I officially announce I’ve won the record-setting 20th-anniversary charity lunch hosted by @WarrenBuffett. I’ll also invite #blockchain industry leaders to meet with a titan of investment. I hope this benefits everyone. #TRON #TRX #BTT #BitTorrent pic.twitter.com/EMZ4TMhgpR
— Justin Sun (@justinsuntron) June 3, 2019
This is an interesting move by Sun, given the recent criticism toward Sun’s wasteful spending habits and Buffett’s status as a well-known critic of the digital asset class.
In the past, the Buffett has described Bitcoin as rat poison, stating “Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day and no little bitcoins come out. It’s a delusion basically.” He also described the people behind bitcoin and altcoins like TRON (TRX) as charlatans.
As a result of the announcement, TRON and BitTorrent (BTT) have seen significant volatility. While both TRX and BTT briefly rallied on the news, the subsequent crypto market pullback and relative disappointment in the outcome of the announcement have TRX down 8% on the day to $0.03575 — giving the altcoin a $2.39 billion market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.