Not long ago, the much anticipated Justin Sun’s million-dollar launch with the business tycoon, Warren Buffet, was held. Following the event, Justin Sun informed the community of a successful launch with Buffet and some of the gifts exchanged was revealed. Among those gifts that Buffet received from Sun were top cryptocurrencies like bitcoin and TRX.
Justin Sun – Buffett Has BTC/TRX In his Phone
However, contrary to Justin Sun’s testimony, Warren Buffet in his recent interview openly denied the receipt and ownership of any such cryptocurrencies. While the crypto community backlashing Buffett’s anti-crypto stance, Justin Sun took to Twitter and claimed that he gifted TRX and BTC which is in Buffett’s Samsung Galaxy Fold. Furthermore, he claimed that the gifted tokens have gained a 20 percent gain thus far.
The cryptos $BTC/ $TRX Mr. Buffett owns remain intact w/ #blockchain proof which’s the beauty of blockchain. I won’t interpret Mr. Buffett as a crypto investor, which he’s not. He only has the $BTC/ $TRX I gifted him, in his Samsung Galaxy Fold, which is a 20% return thus far!
Sun’s claim comes as a part of CZ’s reaction to Buffett’s view towards Bitcoin and Crypto in large. Following the video of Buffett discussing lunchtime with Justing Sun, Binance CEO Changpeng Zhao or CZ reacts saying, Crypto doesn’t have to be used by everyone. He further continued, “My grandma never used USD”. He tweeted as follows;
However, for Justin Sun, Buffett is a great teacher of life. He said that besides aiming to help homeless people in San Francisco, the lunch was also to discuss the difference of opinions in investment and life experiences. Moreover, community members couldn’t digest Sun’s claim that BTC and TRX are in Buffett’s Samsung Galaxy. Consequently, one such Twitter user criticized by tweeting;
As if @WarrenBuffett handed his phone to you to install a wallet with BTC and TRX on it while he didn’t want to know about crypto. Do you believe it yourself? Here is my phone Justin and my password
Buffet Hasn’t Changed His Mind About Cryptos
In an interview with CNN today, Warren Buffet notes that he hasn’t changed his mind about bitcoin and cryptocurrencies and doesn’t still believe in value. Speaking during the interview, Buffet maintains that, contrary to the controversial belief that he now owns a few cryptos including bitcoin and TRX, that he has no crypto portfolio and owns no cryptocurrencies. According to Buffet,
“Cryptocurrencies basically have no value,” Buffett said, noting that they don’t produce anything or mail investors checks. Instead, the value is derived from the belief that someone else will value the more highly in the future. “In terms of value, you know zero,” he said.
It is worth noting that during the interview Warren Buffett makes a number of references demonstrating that he understands blockchain technology. He clearly understands the idea behind the digital ledger, as well as the fixed supply of Bitcoins. Also, when pressed on the idea that Sun gave Buffet some Bitcoin at the dinner, Buffet became visibly uncomfortable and reiterated that he did not own any.
Warren Buffett is one of many financial experts from the legacy space that has decided to avoid cryptocurrency. His decision to do so will not stop blockchain development or cryptocurrency investment. Also, his assertion that cryptocurrencies are extremely risky holds true. Thus, perhaps the best move for crypto advocates is to stop trying to change his mind.
Buffet Declares He Will Never Own Any Crypto
This conclusion has become controversial owing to the fact that it now appears Justin Sun failed to convince Buffet to see the positive side of cryptocurrencies. Actually, the aim of the much-awaited launch was to present cryptos to Buffet in a positive light. This, according to Justin Sun last year, should persuade Warren Buffet to adopt and even own cryptos. However, it seems the launch had the opposite effect on Buffet as the businessman said he
would never own any cryptocurrencies.