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Tuesday, June 4, 2019

Crypto founder, who won Buffett lunch, wants to change the billionaire's hatred of bitcoin

Warren Buffett

Gerard Miller | CNBC

Justin Sun, the crypto entrepreneur who paid a record $4.57 million for lunch with Warren Buffett, told CNBC Tuesday he wants to change the billionaire investor's mind on hating bitcoin.

Sun, founder of cryptocurrency TRON and CEO of file-sharing company BitTorrent, had the highest bid in the 20 years of the charity auction. Proceeds go to help the homeless in San Francisco.

Winning the auction allows Sun to invite seven guests, and he said he's going to bring other cryptocurrency industry leaders to the lunch in New York. He said he's not sure who he's going to be bring yet.

In an open letter, Sun said he was a believer and fan of Buffet and his "long-term value investing strategy."

However, the Berkshire Hathaway chairman and CEO is not a fan of bitcoin. In the past, he's called it "rat poison squared."

When asked for comment on the lunch, Buffett laughed and told CNBC's Becky Quick that he was looking forward to it.

— CNBC's Kate Rooney contributed to this report.

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from Top News & Analysis https://cnb.cx/2ENWtQr

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