We have already mentioned that we finally managed to organize the famous lunch, during which Warren Buffett and Justin Sun from TRON met. You can read more about it here. During the meal the latter tried to convince the legendary investor to BTC. With what effect?
Warren Buffett changes his mind?
During the conversation with Justin Sun and other representatives of the blockchain technology industry, Warren Buffett spoke on several important issues.
Sun mentions that “Warren Buffett believes that Bitcoin still needs a lot of work to prove the value of blockchain. I told Mr. Buffett that Bitcoin is the currency for the next generation, [but] Mr. Buffett smiled and said, “I’m sure my grandson would rather inherit my wealth in USD [than BTC].
However, Warren BuffettMimo all Buffett believes that DLT technology itself has great potential. Many companies in which he has already invested, including JP Morgan, a giant in the banking market, are investigating blockchain and the possibilities it can offer. As Justin Sun says, the billionaire is curious to see how the DLT will change the payments area in the coming decade.
“Warren Buffett believes that blockchain has great potential and many companies in his [investment] portfolio are studying it, e.g. JPMorgan. He is curious to know what role blockchain will play in the payments industry in the next 10 years. We have a lot of work ahead of us!”
– he continues to mention in the Sun social media.
The investor about Tesla
Interestingly, Buffett has a good reputation for Elon Mousse as an entrepreneur. At the same time, he believes that today Tesla shares are not the best asset to invest. In his opinion Tesla has too many competitors in the market. Probably the company’s shares are less attractive in his eyes due to the recent price jumps.
“I have invested in Tesla since 2012. Warren Buffett thinks Elon Musk is a great businessman, but he doesn’t think Tesla is a good investment now, because the automotive industry is a big competitor and all these competitors have large cash reserves and won’t give up so easily [in the market]”.