- Justin Sun has won a bid to have lunch with Warren Buffet
- Justin Sun will pay $4.75 million for the lunch which will go to charity
- Sun will attempt to persuade Buffet, who is a crypto critic
One of the ways by which cryptocurrency can be introduced to the mainstream is by getting the backing of prominent business people, many of whom are skeptical about crypto. It is the support of those powerful firms towards crypto which can lead to decisions that would drive adoption such as the JP Morgan coin announcement.
It seems more steps are being taken in that direction as it was announced on May 3, 2019, that Justin Sun has secured a lunch with legendary businessman and crypto critic, Warren Buffett. It was, however, not a cheap move, as Justin Sun will pay nearly five million dollars for the honor.
Guess Who’s Coming to Lunch?
The lunch that will be taking place was organized by an eBay auction that raises money for Glide, a San Francisco-based charity which was supported by Buffett’s late wife. The charity provides meals to homeless citizens as well as support for domestic violence. Bidding for the lunch began on May 26, 2019, and eventually ended with Sun bidding $4.57 million for the chance to have lunch with buffet and winning.
The date and location of the lunch have not yet been announced but it is believed to be held at Smith and Wollensky steakhouse in New York. While having lunch with Buffet is an honor in itself, there is great potential business-wise.
In the past, Ted Weschler won 2 auctions and eventually was hired by Buffet as an investing deputy at Berkshire Hathaway, his company. Needless to say, crypto watchers are hoping Sun can work similar magic on Buffet who is famously critical about cryptocurrency.
As per the terms of the auction, Sun can invite up to seven people to join him and he said he will choose his most persuasive friends and the most influential people in cryptocurrency in order to sway the mind of Warren Buffett.
While Buffett has been critical of crypto, he has stated that he’s excited to meet with Justin Sun and that he’s grateful for the funds that will be going towards the charity and the causes it supports.
“I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends,” Buffett said in an emailed comment from his assistant to Bloomberg. “We are going to have a good time, and Glide will use his contribution to help many thousands of people.”