• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
lunch bitcoin tron crypto

Does TRON’s 14% Pump After Justin Sun-Buffet Lunch Show Crypto Market’s Immaturity?

Rick Delafont by Rick Delafont
3 years ago
in Cryptocurrency news, Opinion
Reading Time: 3 mins read
Advertisement

The long-awaited lunch date between TRON founder Justin Sun and billionaire investor Warren Buffet has just taken place. Upon the news breaking, the price of the TRON network’s native crypto asset TRX took off upwards violently.

Although Sun claims TRON’s speed impressed Buffet, does such an event warrant the clear market enthusiasm? After all, Sun paid for his time with the legendary investor and we are yet to hear from the latter with regards a second date.

TRX Surges as Crypto Founder Banquets with Buffet

Last year, NewsBTC reported on TRON founder Justin Sun winning a Warren Buffet’s annual charity auction. The prize was to have dinner with the legendary investor. Sun paid $4.57 million for the opportunity.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

As the report noted at the time, TRON pumped on the original news. Investors were apparently hopeful that some one-on-one time with a blockchain CEO would stop Buffet thinking that crypto is “probably rat poison squared”.

Later in 2019, Sun stood Buffet up for their original date. The TRON CEO said he had fallen ill with kidney stones and would need to reschedule the lunch. Again, the TRX price reacted to the news. This time plummeting hard.

Today, Justin Sun announced that he had finally been able to dine with Buffet. Immediately after he posted the following tweet, the TRX price start surging, even relative to an already up trending market.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Amazing dinner w/ @WarrenBuffett finally! Thx for your support & advice on how to take #TRON to the next level! Loved our talk on #Bitcoin, @Tesla & #TRON! Glad to support @GLIDEsf as well! C U at #BRK2020 & our reunion meal in 2030! Details below ? pic.twitter.com/tjulvv2C9k

— Justin Sun (@justinsuntron) February 6, 2020

In a thread following the above tweet, Sun explains some details about the meal. He mentions that he gifted Buffet a pair of Galaxy Note Fold each with a TRON wallet, one loaded with 1,930,830 TRX. Clearly on an effort to impress the investor, the number corresponds to his birthday.

Sun writes:

“Mr. Buffett joked he wished he was born later so that he could have more!”

He also reportedly demonstrated TRON’s transactional capabilities by sending more than 45 million TRX between two devices. Sun adds “Mr Buffet was impressed by the speed of TRON”.

The showering of goodies didn’t end there though. Sun also gifted a Bronze statue of a horse and a traditional Chinese paper cutting of a mouse.

TRX Surges as Buffet Appears Unconvinced

Since Sun posted the above tweet, the TRX price has shot up. Prior to the news breaking, the market capitalisation of the crypto asset stood at around $1.354 billion. In just an hour, investors poured around $185 million into the market.

From Sun’s portrayal of events, Buffet is impressed by blockchain technology but is unmoved on crypto. The final tweet of the thread is telling:

“I told Mr. Buffett #Bitcoinis the currency for the next generation, Mr. Buffett smiled and said “I’m sure my grandson would rather inherit my wealth in $USD.” LOL!”

Such a market response may have been warranted had Buffet himself taken to Twitter to claim TRON the future of money or himself a new Bitcoin convert. However, as it stands, a billionaire bought another billionaire, showered him with some expensive gifts, and failed to change his mind.

Is TRON hundreds of millions of times better fundamentally than it was a few hours ago? In Sun’s own words, “LOL!”

 

Related Reading: Billionaire XRP Investor Warns of Poor Performance, But Technical Analysis Says Otherwise

Featured Image from Shutterstock.
Tags: Justin SunTRONWarren Buffet
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

Bitcoin Whale

Cardano Whales Record Most Active Week In 9 Months, Bullish?

1 hour ago
bitcoin uk, bitcoin gaming, bitcoin funds

The 5 Best Crypto Coins for Gaming

3 hours ago
Visionary Crypto Entrepreneur is working on the World’s First Auto-Rebasing Layer 1 Blockchain

Visionary Crypto Entrepreneur is working on the World’s First Auto-Rebasing Layer 1 Blockchain

3 hours ago
Baby Doge

Baby Doge Coin Grows 124% In Last 7 Days – Is This The Next Big Thing In Crypto?

7 hours ago
Bitcoin

Half Of All Bitcoin Unmoved In 2 Years: What Does This Mean For The BTC Price?

19 hours ago
SingularityNET

SingularityNET (AGIX) Shows No Signs Of Stopping, As AI Crypto Blows Up 923%

22 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

SEC Calls for Bitcoin (BTC) and Ethereum (ETH) Regulation As Snowfall Protocol (SNW) Presale Ends on a High Note

February 8, 2023

Chainlink (LINK) and Orbeon Protocol (ORBN) Outperform the Market, Experts Predict Big Growth in 2023

February 8, 2023

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

SinVerse Studios Announces $1 Million Buyback Program for the SIN token

February 7, 2023

Join the Revolution: Invest in STARSTAKING for 25% APY and the Chance to Win Big with the DeFi Lottery Program

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.