Warren Buffett has been misled by the media about crypto, claims Tron’s Justin Sun

Proponents of the cryptocurrency space have worked with the aim of integrating digital assets with the mainstream financial ecosystem. Justin Sun, Chief Executive Officer of the Tron Foundation, was in the news recently after he made the winning bid to have lunch with Warren Buffett, Berkshire Hathaway’s visionary founder.

In the latest episode of CNBC Squawk Box, Sun elucidated on the upcoming events and what he aimed to achieve with the meeting. Sun claimed that there were three reasons as to why he bid for the event and most of them were skewed towards pushing crypto into the mainstream. After it was announced that Sun was the winner, he had given a statement saying,

“I’m a long-term believer (and certainly a big fan) of Buffett and his long-term value investing strategy. As some of you might know, the CEO of Berkshire Hathaway has said publicly he sees no ‘unique value’ in Bitcoin, the world’s largest cryptocurrency. Yet, he has pointed to the potential in blockchain, the underlying technology behind all cryptocurrency.”

During the CNBC interview, the Tron CEO added that he made a fortune using Buffett’s teachings and the lunch was a way to pay him back. He added that Tron was more focused on local communities and that if the output from the meeting was good, it would be beneficial to society. He said,

“We wanted to become the bridge between institutional investors and the financial industry and this is a small step towards that goal. We want to convey to Buffett that a lot of applications can be made using blockchain technology and cryptocurrencies. The opportunity to bring along 7 industry leaders to the lunch is also a noticeable move.”

Sun was also asked if Buffett’s previous comments like “Bitcoin can be compared to rat poison,” would hinder his efforts to promote crypto. However, the Tron exec was optimistic that Buffett did not have the right force to know about the technology and that he was swayed by the media. He added,

“Tron wants to convey the progress we have made over the past 10 years and the fact that Facebook and JPMorgan are also getting into the field is positive news.”

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