Justin Sun won the auction for a charity lunch with Warren Buffet, the American business magnate, with a record bid of $4.57 million. Justin Sun is a crypto-entrepreneur and founder of Tron cryptocurrency platform. The proceeds of the lunch will be given to GLIDE, a charitable Trust run by Buffet.
The auction was conducted on eBay by the GLIDE Foundation; the trust serves the poor, homeless, and those battling drug abuse.
Reportedly, Warren Buffet was delighted, he told the media,
“I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends. We are going to have a good time and Glide will use his contribution to help many thousands of people.”
Sun Invites Zhao But Turned Down
Justin Sun has said that he is going to send invites to a couple of people from the crypto-community attend the lunch with him. He has already sent the invite to the CEO of the largest cryptocurrency Exchange, Changpang Zhao. However, CZ has turned down the offer, he said,
@justinsuntron kindly invited me to go, but I can’t make it. Too far. I guess that’s like turning down $1,000,000, assuming 5 guys going, lol… But very much appreciated.
The crypto-community has hailed this move made by Justin. While the proceeds are moving to a good cause, the cryptocurrencies are getting the attention from mainstream media.
Nevertheless, some people also criticized the overly expensive marketing expenditure. Ran Neuner, the host of Crypto-Trader on CNBC Fast Money expressed his views in a series of tweets sent by him. In one tweet he said,
What most people don’t realize is that this game is not about tech, tech will be commoditized and easy to fork. This game is about marketing and in that department Justin Sun is clearly in the lead.
Warren Buffet and his long-time business partner Charlie Munger have openly criticized Bitcoin and cryptocurrencies to the extent that Buffet called it a ‘Rat Poison.’ Justin Sun plans to educate Buffet about the concepts of cryptocurrencies and its advantages at the event.
Do you think that Warren Buffet will view cryptocurrencies differently after the lunch? Please share your views with us.
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com