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Warren Buffet doesn't change his mind about cryptocurrencies

Warren Buffett - Warren Buffet doesn't change his mind about cryptocurrencies

If anyone thought that Justin Sun, the CEO of Tron, could have changed his mind Warren Buffett on cryptocurrency, it is now clear that this hope has been disappointed. There was one to formalize the persistence of the negative attitude of the Oracle of Omaha on virtual coins long three-hour interview with CNY's Becky Quick on Squawk Box. During which the issue related to cryptocurrencies was also addressed.

The dinner between Buffett and Sun

As you will remember, some time ago Justin Sun invited Warren Buffett to dinner, with the intention of making him change his mind about digital money. The event, because it can be considered as such, took place in the past 23st January, complete with a receipt published on Twitter and also attended Charlie Leefounder of Litecoin, Chris Lee, CEO of Huobi, Helen Hai to represent Binance e Yoni Hesse for eToro.
Justin Sun had given Warren Buffett a Samsung Galaxy Fold with a wallet Tron installed, inside which he had transferred almost two million TRX, making the tycoon also a Tron holder, officially. Which had added a Bitcoin always kept in the Galaxy Fold. During the dinner, Sun then proceeded to inform Warren Buffett of the fruits collected through the partnership between Tron and Samsung.

How did it really go?

If you take the good i Justin Sun's tweet, the American billionaire on the occasion had been impressed by the speed of transactions on the Tron network. He also expressed the impression that in the blockchain there was a lot of potential. He also sensed that many companies in his investment portfolio were precisely exploring the real employment opportunities.
Furthermore, faced with Sun's assertion that Bitcoin will become the currency of the next generation, Buffet made a remarkable joke, stating that he is sure that his grandson would like to inherit his wealth in the form of dollars. However, probably these words had to be interpreted differently from a simple joke.

Buffett's real orientation

Now, in fact, the very Oracle of Omaha has offered his interpretation of that dinner. Claiming to have found it actually pleasant, but not such as to change its perplexity in the face of virtual currencies. Indeed, his judgment against cryptocurrencies has practically remained the same, namely that they, in terms of value, they are zero.
As a partial consolation of Justin Sun, it should however be remembered that Buffet is 90 years old, an age in which assets are considered for what they can be worth in current affairs, certainly not in a more or less near future which probably will not be part of. He has demonstrated this over the years, in which he has kept strictly away from cryptography, remaining faithful to an idea of ​​traditional finance that is often refractory to innovation.
Often, but not always, if we consider that many banking institutions, starting with JP Morgan, are starting with ever greater determination on the path of digital money, recognizing there potential in operational terms, in particular as regards the online payments sector. Perhaps they, orienting themselves with increasing force on virtual assets, could ultimately change Warren Buffett's mind, much more than Justin Sun's naive enthusiasm.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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