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Justin Sun Says Warren Buffet Owns More Than 1 Million TRX (Technically)

Justin Sun stands as the founder of the Tron crypto platform, and has been a steady source of news for the crypto space for quite some time now. On the 4th of January, 2020, Justin Sun said something bold: Warren Buffett, a billionaire investor, owns cryptocurrency. Through a tweet, Sun claimed that Buffett owns an entire Bitcoin, included an excess of a million TRX tokens.

A Man Adamantly Against Crypto

Warren Buffett stands as the CEO of Berkshire Hathaway, but is a business tycoon and heavyweight in his own right. Justin was very quick to point out that the man “technically” owns some cryptocurrencies, in the same way, someone technically owns some prize they’ve locked in their attic because they’ve never use it.

Warren Buffett has generally been seen as a so-called “Nocoiner” due to his anti-crypto sentiments, which is true. The so-called Oracle of Omaha has made his stance on crypto quite clear on multiple occasions: He doesn’t own any crypto, and he has no intention of ever doing so. This went as far as going to an interview at the Squawk Box with CNBC’s Becky Quin, claiming that crypto cannot produce anything and has no intrinsic value.

The man even called crypto “rat poison squared” in one interview.

Owning Freely-Given Crypto Is Still Crypto Ownership

However, Justin Sun had managed to secure a dinner date with Buffett, doing said dinner in February of 2020. At that dinner conference, Sun had given Buffett a pair of Samsung Galaxy Fold smartphones.

One of these smartphones were loaded up with a little over 1 Bitcoin, with the other boasting 1,930,830 TRX tokens. Sun explained this amount was equal to his birthday. Buffett allegedly joked that he wished he was born later, seeing as that would up his token count.

However, directly after that meeting, Buffett returned to his general anti-crypto narratives, claiming he has no crypto holdings whatsoever. Whatever Buffett did with that crypto is unclear, but it seems that Sun’s little conversation didn’t do anything to sway his mind.

Some Bold Claims Being Made

Now, crunching the numbers, Warren Buffett has received an initial gift of $45,000 in TRX token, with a token going for around $0.023 apiece at the time. Now, however, the token’s price is around $0.029, which means Buffett earned a 24.43% profit on his holdings, boasting $55.994.07 in TRX tokens afterward. The same goes for Bitcoin, having gone for $10,000 apiece when he was gifted it, the coin is now worth around $31,400, which shows a profit of 314%.

The man, worth more than $80.08 billion thanks to his mainstream investments, is undoubtedly thrilled he now holds roughly $87,400 in crypto. Justin Sun has genuinely shown the public how much of a crypto bull Buffett is through this claim.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.