The traditional financial sector and Bitcoin are not known to be best friends. A possible loss of the financial establishment through a possible success of BTC would be too great. So it is no wonder that many investors do not (yet) think so much of the digital asset. So far, among others, Warren Buffett. The investor legend, also known as “the Oracle from Omaha”, has often stated what he thinks about the digital gold. His opinion can be read in his most famous description of Bitcoin: “Rat poison to the power of two”.
Interestingly enough, it was a crypto entrepreneur of all people who bought the annual dinner with Buffett 2019. After Justin Sun unfortunately had to postpone the dinner in summer 2019, it was made up for at the end of January. According to Sun, there was a lot to talk about and Buffett even got his first Bitcoin. We summarize.
Justin Sun’s dinner with Warren Buffett
According to some posts on Twitter yesterday by Tron CEO Justin Sun, the dinner with Warren Buffett, which was originally planned for mid-2019, has now been made up for. Sun had bought the dinner in May 2019 for 4.6 million USD. The proceeds of the dinner, which is auctioned once a year, will go to a charity organisation that cares for the homeless in San Francisco.
The dinner probably took place on 23 January. Other celebrities from the Crypto-Space were also present: Charlie Lee, the inventor of Litecoin; Yoni Assia, the founder of eToro and Helen Hai, the head of Binance’s Blockchain Charity Foundation.
Bitcoin gift for Buffett
Sun seems to have taken some things from the dinner with Buffett. So he writes in the above mail: “Amazing dinner with @WarrenBuffett finally! Thanks a lot for your support and your advice how to take #TRON to the next level!”
But not only the Tron CEO had an added value from the common evening. So Buffett now (finally) has his first Bitcoin. Sun gave it to the star investor on a Samsung Galaxy Fold: “Warren Buffett got his first Bitcoin! This lucky Bitcoin is safely stored in his Samsung Galaxy Fold.”
But this was not the only gift Buffett received from Sun. Sun also said that he gave Buffett 1,930,830 TRX. At the current rate of 0.022 USD per TRX, this is a considerable sum. Bitcoin’s price has risen by 16% since January 23, and TRX’s price has risen by a whopping 12.5% in the last 24 hours.
Buffett apparently still not a Bitcoin fan
According to Justin Sun, the topics of the evening ranged from investment strategies, Tesla, Blockchain and new forms of money, and of course Bitcoin. But Buffett doesn’t seem to have deviated from his opinion on the digital asset. So Sun says:
“Warren Buffett believes that Bitcoin still needs a lot of work to capture the value of blockchain. I told Mr. Buffett that Bitcoin was the currency for the next generation, Mr. Buffett smiled and said, “I am sure my grandson would rather inherit my fortune in U.S. dollars.””
Nevertheless, Bitcoin seems to be well on the way to the next Bullrun. The upward trend that has been going on since the beginning of the year has continued over the last few days. The Bitcoin share price was able to reach a new annual high for 2 days in a row and has since passed the USD 9,800 mark. We can be curious how the days will continue.