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CEO Justin Sun recently met with Warren Buffett for a once-delayed charity lunch. The cryptocurrency project claims that the famous investor is actually optimistic about blockchain technology, despite once calling “rat poison squared.
The long-awaited luncheon with Justin Sun, Warren Buffett, and others concluded earlier this month after months of confusion whether it would actually take place. It was initially postponed in July 2019, as BeInCrypto reported then. Calling it “an honor,” Sun told reporters that he will “take Mr. Buffet’s advice and guidance and make TRON a better ecosystem.” It’s currently unclear whether Buffett said anything encouraging about TRON’s future.
TRON has used the Buffett dinner to argue that that the legendary billionaire investor is actually bullish on blockchain. In a recent tweet by the TRON Foundation, the cryptocurrency project affirmed Buffett’s belief in blockchain technology’s long-term future. “He believes blockchain technology will have a disruptive effect on the future of payment,” the project writes on Twitter.
Mr. Buffett said #Blockchain has its value, there are a lot of incredible companies in the payment market and it has huge demands. He believes blockchain technology will have a disruptive effect on the future of payment.
— TRON Foundation (@Tronfoundation) February 17, 2020
Despite Mr. Buffett’s apparent high praise for blockchain, he did not seem to be interested enough to invest in TRON or any other cryptocurrency. In fact, Buffett has been hostile to Bitcoin and other cryptocurrencies for some time — and that’s not going to change no matter how convincing Sun was.
Last year, Buffett called Bitcoin a “gambling device” with “a lot of frauds connected with it”. [CNBC] Additionally, Buffett’s Vice Chairman of Berkshire Hathaway, called trading in cryptocurrencies “just dementia.” However, again, Buffett and investors like him have affirmed blockchain’s promise as a technology. The specifics of this supposed ‘promise,’ however, has never been elaborated on. It seems that Buffett wants to keep his foot in the door when it comes to this industry but refuses to commit to any one project. TRON was also unable to sway him.
So, was the Buffett and TRON meeting a great success as the TRON Foundation claims? It does not look like it actually changed minds, although it is impossible to know what was exactly said at the dinner. Thus far, Buffett has not made any public comments on blockchain technology since the meeting.
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