Since inception, cryptocurrency has been the object and subject of controversy, and even though some critics switched from being critics and pessimists about its success, to being praise singers and optimists, some critics have maintained their stance and do not see anything good about cryptocurrency. Billionaire and 4th richest man in the world, Warren Buffet is one critic that does not look like he’s about to switch sides anytime soon, even though several crypto top shots including Tron’s Justin Sun have tried to convince him to see reason.
Warren Buffet vs Bitcoin
On the 24th of February, 2020, in an interview with Becky Quick of CNBC, Buffet was reported to have said that he didn’t have crypto, and would never have any, because he felt it was useless except when sold to someone else. However, Justin Sun as a way to prove the efficiency of blockchain technology tweeted that billionaire Buffet actually owned bitcoins and tron tokens, based on the fact that Sun had donated crypto at Buffet’s charity luncheon. Furthermore, Sun said there was blockchain proof that Buffet owned the crypto “….which is the beauty of blockchain”, he wrote in the Tweet.
However, according to Sun, even though Warren Buffet was technically in possession of cryptocurrency, he still doesn’t view Buffet as being a real “crypto investor”. He further added that there was a 20% increase in the value of the cryptocurrencies he gifted to Buffet.
Warren Buffet Bitcoin Lunch
You may recall that in 2019, Sun won an auction to have lunch with Warren Buffet, and he and some other crypto big shots like the CFO of Huobi, Chris Lee, and Litecoin Foundation founder, Charlie Lee, among others were at the luncheon with Buffet in Nebraska. Sun and others tried to make Buffet a crypto believer, but apparently, he was not convinced one bit, as he has made several comments after, to criticize cryptocurrency.
Interestingly, Buffet is not the only financial heavyweight to make public his distaste for cryptocurrency, because just as he has said that Bitcoin has been instrumental at laundering illegal money, some other financial elites like Bill Gates believes that even though cryptocurrencies are a special type of technology, they have caused a number of deaths as a result of being used to facilitate the purchase and sale of illicit drugs. Another billionaire, Mark Cuban says instead of having Bitcoins which he thinks have no value, he would rather have bananas, because they are edible and healthy at least.
Justin Sun Warren Buffet Miscommunication
As stated above, Warren Buffet mentioned he was not investing in Bitcoin despite Justin Sun announcing that he gave Warren Buffet a Samsung phone loaded with BTC and TRX during their gathering. Justin even went as far as providing BTC address information on social media to prove his case. This goes to show how prominent figures like Buffet are still confused on the topic. From a PR standpoint, it was great for Sun to get involved with Warren, but if we follow Warren’s investment history, it was evident that he was going to be a poor candidate to convince otherwise. As reported in a previous article, the pitch seemed inefficient based on the man it was being presented to.
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