Will rat poison squared be on the menu?
Here’s a fun development. TRON founder and BitTorrent CEO Justin Tron has paid over $4.5 million to sit down to a steak lunch with legendary investor Warren Buffett.
The prize of a meal with the world’s most famous investor was part of a charity auction for the Glide Foundation, which helps the poor, homeless and those with various addictions. Buffett has been involved with the charity for many years, and this is the twentieth year he has agreed to have lunch with whoever stumps up the most cash. So far so good. But here’s the really cool bit.
Buffett does not like bitcoin. He really, really hates it – though he has started to come around to the idea of blockchain potentially providing some useful service to society. Here are some of the things he has said about bitcoin and crypto in the past:
- It’s nothing more than a ‘gambling device’.
- It 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.’
- It’s ‘rat poison squared’.
- ‘Cryptocurrencies will come to bad endings.’
Buffett has admitted he doesn’t know much about how cryptocurrencies work. And Justin Sun has said he’s a big fan of Warren’s long-term value investment approach. So when he and seven of his crypto-industry friends sit down to a steak – presumably without rat poison – it’s going to be an interesting opportunity to educate the world’s most successful investor about blockchain.
In a Medium post, Sun writes:
The long-term value investment strategy and cryptocurrency, in my eyes, are one and the same. We in the community know we have a long road ahead of us to educate the mainstream on blockchain’s value and proper use cases. Rather than trying to get rich quick, we aim to counsel everyone that investment should be about vision and execution.
I look at the upcoming lunch with Buffett as an opportunity to seek mutual understanding and growth. To aid in the conversation and support the overall cryptocurrency and blockchain community, I will invite several industry leaders — with your input — to accompany me to New York City for the lunch.
From one perspective, it looks like Sun just paid $4.5 million for him and his mates to spend a couple of hours trolling Warren Buffett on bitcoin. From another, it’s an olive branch from a successful blockchain company to an insanely successful but skeptical investor.
We’re looking forward to seeing how this one turns out.
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