Justin Sun gives 3 reasons for $4.6M Buffett lunch: 'He is being misled'

04 Jun, 2019
by Jelmer van der Dussen
Bitcoin
Justin Sun gives 3 reasons for $4.6M Buffett lunch: 'He is being misled'

Justin Sun was featured on CNBC Squawk Box on Monday following his winning $4.57 million charity bid to have lunch with Bitcoin pessimist Warren Buffett. The TRON Founder and BitTorrent CEO said he made the record-bid for three reasons.

'Pay back to Warren Buffett'
'First of all, I have been a long time believer of the value investment strategy, and I also made a fortune from Buffett's inspiration. So basically I want to pay back to Warren Buffett for his inspiration', Sun said during the interview on CNBC.

'BTT and TRON focusing on local communities'
'The second thing is that BitTorrent and TRON are always focusing on local communities. Glide Foundation (the charity that will receive the $4.57 million) has always been focusing on the San Francisco charity, so that's why we also want to donate to Glide Foundation for its endavours in the San Francisco community.'

'I want to become the bridge'
'And the third thing is: I want to become the bridge between the institutional investors, the financial institutions, the traditional investors like Warren Buffet, and the crypto community and blockchain. So that's why I also want to bring seven leaders of the blockchain industry to communicate with Warren Buffet about blockchain technology and the opportunity behind it.'

Sun said that he wants to invite Ethereum Founder Vitalik Buterin, Litecoin Founder Charlie Lee and several mining leaders. Binance CEO Changpeng Zhao also received an invitation, but declined because it is 'too far away'.

'Buffett is being misled'
The TRON Founder hopes to give an alternative Bitcoin opinion to Buffett, who earlier said that Bitcoin is 'rat poison squared'. 'Warren Buffett doesn't have the right source for blockchain industry news, he is being misled by the mainstream media most of the time. That's why we want to have lunch with him, communicate with him. In these 10 years, since 2009, we have made progress, and the blockchain industry is now really big. Even Facebook and JPMorgan are planning to launch a stablecoin.'

Sun added that he doesn't think he'll change Buffett's mind on BTC. 'That's too much to ask for in 3 hours. But we will offer him a different opinion on Bitcoin and blockchain.'

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