TRON founder Justin Sun announced major news on June 3, involving one of America’s most famous and beloved investors.
TRON Founder’s Big News
Sun tantalized the TRON community for days leading up the announcement, hinting on Twitter that a big development was in the works pertaining to TRX and BitTorrent Token. The TRON Foundation CEO also made cryptic references to participating in a competition, claiming that he had a 70 percent chance of winning.
The price of TRX jumped following Sun’s May tweet, with investors anticipating good news for the currency.
On June 1, the TRON founder provided another update, claiming to have been successful in his previously referenced endeavor and bringing about a ‘big win’ for the blockchain community.
I did it! Big win for the #blockchain community! Big reveal June 3. Stayed tuned! #TRX $TRX $BTT #BTT
TRON enthusiasts were left to speculate over what Justin Sun had accomplished, with some picturing a massive integration between TRX and BTT. Nonetheless, the price of TRON and BitTorrent token skyrocketed over the weekend, with TRX experiencing 20 percent gains on the day.
A Lunch With the Warren Buffett
On June 3, Sun took to Twitter to reveal–at long last–that he had won the bidding for the 20th annual charity lunch hosted by legendary investor Warren Buffett. Sun’s winning bid came in at over $4.5 million, making for a substantial chunk of change wagered on the lunch.
I officially announce I’ve won the record-setting 20th-anniversary charity lunch hosted by @WarrenBuffett. I’ll also invite #blockchain industry leaders to meet with a titan of investment. I hope this benefits everyone.
Despite the seven-figure cot, Sun views it as an opportunity to speak with Buffett directly about the virtues of digital currencies, and hopefully change his mind on the value of bitcoin, trx and other cryptos. He also intends to bring ‘industry leaders’ for blockchain, which may pique Buffett’s interest in the technology.
Buffett has continued to be one of the most high-profile disparagers of bitcoin and cryptocurrency. Along with his partner Charlie Munger, Buffett has routinely bashed bitcoin and likened supporters of digital assets to gamblers as opposed to making an investment.
Sun will have the rare opportunity to spend extended time with Buffett and attempt to sway his opinion on crypto. While Sun has made for a strong presence on social media and one of the more active crypto founders, he will have to bring his best persuasion skills in order to convert Buffett to a bitcoin believer.
While TRON had pumped twice before following Sun’s alluring tweets, the price of TRX and BTT failed to appreciate after the Warren Buffett announcement. Instead, the price of BitTorrent token fell 6 percent, with TRX experiencing a slight price contraction consistent with the market.
It may be a classic example of ‘buy the rumor, sell the news,’ but Sun could be reaching a point of exhausting the investment base for TRON through tweets alone. However, TRON is continuing to build a lead in the decentralized application marketplace, posting the highest active user base throughout 2019.
Title image source.