Justin Sun, the founder of Tron and CEO of peer to peer file sharing protocol BitTorrent has revealed in a tweet that his bet of a whopping $4.57 million as part of the ‘Oracle of Omaha’s’ annual charity auction for the Glide Foundation for a lunch with Warren Buffet has been placed.
Sun who is 28 years old, is due to meet Buffet in Manhattan at Smith & Wollensky’s. He has said that he will invite seven leaders of the crypto industry to the luncheon. He is a long term believer and fan of Buffer, and his strategy of value investing.
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Before he launched Tron in 2017, and an ICO which was able to raise $70 million, Sun invested in Tesla and bitcoin as he pursued his Master’s Degree in 2013at the University of Pennsylvania. His venture before this, Peiwo, was a step into social media with an app like Vine which through 10-second audio clips, connects users.
The CEO of Berkshire Hathaway has said that he does not see unique value in Bitcoin which is the largest cryptocurrency in the world. Sun also said that despite this, he has viewed potential in the underlying technology behind cryptocurrency. Sun seeks mutual understanding and growth from his luncheon with Buffet.
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In the past, Buffet has slammed cryptocurrency and has called it a ‘rat poison squared’. Recently he also said at an annual meeting of shareholders that betting on bitcoin can be equated to betting on zero in a Vegas Roulette Wheel.
In response to Sun’s winning bet, Buffet said that he was delighted and looked forward to meeting him and his friends. He was optimistic that they will have a good time, and the money donated will be used to help many needy people.
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This auction has been held every year since 2000, and the Glide Foundation has raised over $32 million to serve the homeless population and addicts in San Francisco. The winning bet last year closed at $3.3 million.