Justin Sun, the owner and CEO of both Tron and BitTorrent tech businesses, has extended a massive chartable bid and won the privilege of being able to sit down for a 3 hour lunch meeting with the Forbes listed ‘third richest man in the world’, Warren Buffet.
A bid of $4.56 million in the annual eBay charity auction has made all of this possible. Although the date and time of the lunch is unclear to the media, the venue has been confirmed for Smith and Wollensky in New York City, USA.
Mr Buffet has made most of his fortune through investment and is a firm believer in the ‘Value Market Strategy’ which leaves him as a firm sceptic and naysayer of cryptocurrency and blockchain technology, touting it as a “gambling device” with “a lot of fraud.” His years of success and business knowledge may prove difficult to bend, even with some of the most influential people in cryptocurrency at the table with him.
Mr Sun is a successful and rich man in his own right, and not only because of cryptocurrency. He too follows Buffet’s strategy on stock trades, believing firmly in the ‘Value Market Strategy’ and having made it work well for himself. Sun, among other interests, is one of Tesla’s early investors. His keen eye in the tech industry is one to be admired and emulated. He is respected in the Chinese business world as a young and tech savvy entrepreneur on the cutting edge of digital development.
Admittedly, Sun’s cryptocurrency, Tronix, is one of the leading e-currencies in China when it comes to sports gambling, though it was originally touted as a cryptocurrency for the entertainment industry. This may prove a tough pill to swallow for Mr Buffet. But, like so many crypto-punters, Sun is more interested in sharing his vision of a ‘decentralised internet’. It is this concept that he will try to pitch.
Justin Sun has not beaten around the bush about his reason for paying top dollar for this lunch. He seeks face time in order to promote the crypto world to Mr Buffet and will try to sway the esteemed gentleman to see the bright side of Blockchain technology, as a whole.
Sun’s mission is not to promote Tron or BitTorrent, per se, but to punt the entire industry in hopes of gaining traction through the influence that such a business giant would bring. As such, he is not going it alone, but has rather invited a contingent of crypto leaders from different arenas around the blockchain globe to attend the meet up with him.
The young entrepreneur admits that they have their work cut out for them and that “it might be unrealistic to think we can convince Warren Buffet in just 3 hours, to buy cryptocurrency, but we want to show him the recent progress of cryptocurrency and blockchain technology. It’s not about Tron itself, it’s about crypto and blockchain; the whole industry.”
What is the potential knock on effect for Bitcoin if Sun converts Buffet?
While Tron/Tronix is doing very well in 2019, having grown in value by 55%, the mother of cryptocurrency, Bitcoin, has superseded these stats by almost double, having grown in value by around 100% in the last 6 months. Should Buffet see the value in cryptocurrency and acknowledge Sun’s observations that crypto fits into his Value Market Strategy, then it can be assumed that all top performing currencies may benefit in the long run, most of all Bitcoin.
Any interest in cryptocurrency on a grand scale will positively affect Bitcoin and its associated businesses. The support of a leading investor in trade may turn the heads of other conservative investors as well, leading to a surge in market growth. Slowly but surely, the world is catching on to the advantages of the decentralised markets. Three massive digital magnates have not been able to resist involvement in one way or another. Whether developing their own in-house currency based on Blockchain, like Facebook has, or offering tools to manage various currencies, like Samsung and Applehave done, every acknowledgment is a step forward towards decentralising the internet.
Supporting the gambling industry is certainly encouraged in forerunning European nations, why should it be so shunned in the Blockchain environment? Yes, Bitcoin is a great investment and even provides a great shopping platform, but its casino world is of the highest calibre. It just goes to show that Bitcoin traverses all industries.
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