Tron Surges Off Crazy Announcement
What the hell. Over the past few days, Tron (TRX) founder Justin Sun has been hinting that he was poised to drop a crazy announcement. It was an announcement of an announcement, as many in the crypto community like to call Sun’s pumped up tweets. And today, we got the news.
As reported by Decrypt Media, Sun will be having dinner with Warren Buffett. Yes, the Warren Buffett that hates Bitcoin (BTC) with an unbridled passion. Sun managed to outbid all of Wall Street and Silicon Valley in the investor billionaire’s famous charity lunches, auctioned off on eBay. The Chinese technology entrepreneur, best known in the cryptocurrency space for launching the Tron blockchain and acquiring BitTorrent, paid a jaw-dropping $4.57 million. It is unclear where the money came from, but this writer guesses it’s going to ‘good use’. All proceeds of the auction will be going straight to the Glide Foundation, a non-profit meant to help those without homes in the expensive San Francisco.
With this lunch (held at Smith and Wollensky Steakhouse in New York), during which Sun can bring upwards of seven of his team members/family members, Sun hopes to entice Buffett to look deeper into blockchain technologies and digital assets. The Tron founder also hopes to “get valuable tips and insights from him about entrepreneurship and making bold bets on the future”, according to a press release.
Per a Bloomberg interview with the enigmatic cryptocurrency “pioneer”, Sun also looks to change Buffett’s mind about his thoughts on the industry. He explained, “It is very common in investment circles that people will change their minds.” Of course, Buffett is a staunch Bitcoin hater, calling it “rat poison squared” and something with no intrinsic value.
As a result of this bit of news (or whatever this is), TRX has absolutely surged. As of the time of writing this, TRX is valued at $0.3809 apiece, up some 8% since the announcement of this bizarre auction success.
Skeptics Laugh At The News
Upon the release of the news, Crypto Twitter came out to express their excitement, and in some cases, distaste. Bloomberg TV’s Joe Weisenthal joked that he “genuinely feels sorry for Buffett that he’s going to have to sit through this.” Indeed, many crypto commentators are sure that this could be a net negative for the cryptocurrency space. The tweets seen below sum up the industry’s sentiment about this announcement fairly well.