It has been a little over a week since Justin Sun, Tron founder and BitTorrent CEO, won the 20th annual eBay charity auction. This entitles him to have lunch with Warren Buffet, one of the greatest investors of our time. He bid the record-setting $4,567,888 to win the auction. Funds from this auction will benefit the San-Francisco based non-profit GLIDE foundation. The Billionaire investor and CEO of Berkshire Hathaway, Warren Buffet, has held this auction for 20 years in order to help the foundation that supports the homeless and poor people residing in the Bay Area.
Expressing his excitement for the upcoming lunch event, Sun said that he is excited to meet a true pioneer in investing. He further stated that he is looking forward to meeting Warren Buffett so that he can have a conversation on blockchain. Justin believes that Warren has not been exposed to the proper information about blockchain as the mainstream media usually has a biased opinion on the subject. When it comes to cryptocurrencies, we all know Warren is not very fond of bitcoin. He has publicly criticized the cryptocurrency on many occasions such as when he called Bitcoin “rat poison squared“. Justin will try to change that negative sentiment for what he considers the future of a better world.
Sun, along with the seven other invited guests, will get a chance to dine with Warren Buffet in private. In the 20th year of the eBay Power Lunch with Warren Buffet Auction, it opened with a $25,000 bid on Sunday, May 26th, 2019. It gained a good pace over the week and crossed the previous record high bid of $3,456,789. Hosted by the online shopping portal eBay, the auction closed on Friday 31st May 2019.
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. #TRON #TRX #BTT #BitTorrent pic.twitter.com/EMZ4TMhgpR
— Justin Sun (@justinsuntron) June 3, 2019
Is It Worth The Big Price Tag?
The insight that any person can get from dining with Warren may or may not be worth the price tag. Many years would have to go by in order to make that determination. Let’s be realistic. Will a few “inside” tips make you a billionaire? Probably not, unless it deals with sharing insider information(not legal). If following tips from billionaires makes you a millionaire, everyone would be rich. But Justin Sun is in a different position from any other person. Justin is a public figure who understands the value of marketing and branding, especially in a relatively new market such as cryptocurrencies. He is also the head of one of the most traded cryptocurrencies in the world thanks to his efforts. That makes a huge difference. So how is the price tag justified?
Have you thought about all the publicity that he has gotten over the last 10 days? He is now known by millions who have never even dealt with a single cryptocurrency. This includes your average Joe as well as the people who run the financial markets. Just to give an example, a friend of mine from Spain sent me the article. This friend has no idea what blockchain technology is nor what Tron is. Is that valuable? It definitely is! Currently, most people are underestimating the importance of branding in the crypto space.
There are now videos and articles all over the internet on every top news site you can think of. Feel free to do a random search and see for yourself. With all the high flying media exposure, Justin Sun has now become a truly legitimate public figure, whether related to cryptocurrencies or not. Justin Sun took this opportunity to tell CNBC that he wants to become the bridge between the world of cryptocurrency and institutional investors. Imagine where that puts Tron. I do not think people are grasping how smart a move winning this auction is. They will though. Soon enough.
About GLIDE Foundation
The non-profit organization GLIDE Foundation was introduced to Buffet by his first wife, Susie. Susie was a volunteer in the foundation. However, after her death in 2004, Buffet has remained an active member and has raised about $30 million since then. GLIDE stands with the poor, people of color, LGBTQ community, and many others who have been oppressed, isolated, and stigmatized. The foundation provides a holistic, integrated model of programs and services to meet the complex needs of the community.
GLIDE is continuously making its way to impact as well as to become a helping hand by reaching thousands of people who are in need. All this is happening under the leadership of Karen Hanrahan, current President and CEO. With the help of comprehensive services, spiritual connection, and fearless advocacy, GLIDE has become a ray of hope for a healthier, justified. and inclusive city.
Speaking about the winner, Justin Sun is the founder of TRON, which is dedicated to creating a boundary-free internet that can be a fuel for innovation across industries. TRON and it’s subordinate BitTorrent provides direct access to applications, content, and media. The two combine to bring best blockchain approaches with innovations in peer-to-peer sharing technologies to its users.