Cryptocurrency pioneer Justin Sun bid a whopping amount of $4.57 million to have lunch with Warren Buffett, famously referred to Bitcoin as “probably rat poison squared.” Entrepreneur Justin Sun bid at a charity auction event to have lunch with the legendary investor. Sun launched cryptocurrency TRX token in 2017. He is also the founder of the Tron network — an operating system based on the blockchain technology that underlies cryptocurrencies.
Buffett has repeatedly criticized cryptocurrency, calling bitcoin rat poison squared in various press meets. The Berkshire Hathaway (BRKA) CEO has often drawn lines between the cryptocurrency and gold, stating both assets are purely speculative and don’t benefit earnings and dividends as stocks.
In an open letter to the cryptocurrency community, Sun struck a bullish tone about winning over a bitcoin bear. He was quoted, “Even the most successful investors of all times can sometimes miss a coming wave.” Buffett has admitted failing to realize the potential of tech companies such as Amazon (AMZN) and Alphabet (GOOGL), the parent of Google and overpaying for an investment in Kraft Heinz Co (KHC) in the past. Sun further added, “I firmly believe that with the right understanding and communication, Buffett will eventually change his stand on cryptocurrency and blockchain.
This is the 20th year Buffett; the legendary Wall Street has offered himself for a power lunch to raise money for Glide. Glide is a San Francisco based charity providing medical care, housing assistance, meals, youth summer programs, and other services to the neediest residents in the locality. Buffett said in an email to that he was “delighted” Sun won the auction and was looking forward to meeting him. “We shall have a good time, and Glide will use his contribution to help many thousands of people,” he added.