- Sun claims to have a diversified investment portfolio
- Tron calls on investors to buy his coin
- Sun failed to impress Warren Buffett during their lunch
Tron News Today – in a recent interview on CNN, Tron chief Justin Sun said he owns a diversified portfolio of investments in crypto and holds large amounts of BTC, XRP, and ETH. He was candid about Tron when he called it a shitcoin and this hurt investors as his coin has lost 20% since he made those remarks. Sun also gave his opinion about the future of the market. He is ultra-bullish on BTC and expects the coin’s price to reach $100,000 by 2025.
On the other hand, Sun called Tron Blockchain an alternative to iOS and Android operating systems. He said the Blockchain network offers better privacy to users. Let’s take a recap of his CNN interview.
Sun Calls Investors to ‘Buy His Shitcoin’
In a short video posted by crypto podcaster Peter McCormack via his Twitter handle, Sun is heard referring to Tron as a shitcoin. Note that the term shitcoin is a word used negatively in the crypto market. It is used as a name for non-performing cryptos. Thus, referring to Tron as a shitcoin doesn’t come as a good thing even though it was a publicity stunt. Sun has been promoting Tron heavily as a Blockchain network worthy of massive adoption. However, after Sun’s comments came earlier in the month, the price of TRX, Tron’s native coin has dropped daily after a good surge this year.
When this content was published, Tron price is down by 4.5% and is trading at $0.019 with a total market capitalization of $1.30 billion. On February 15, Tron’s price had doubled since 2020 began. However, over the past week, the price of TRX has now corrected by 20% and slipping below the $0.20 mark. At press time, Tron’s year-to-date returns are 40%.
Sun Fails to Impress Warren Buffett over His Dinner
Last month, Sun finally got the chance to have his lunch with investor Warren Buffett. He won the lunch date with Buffett in 2019. Before the lunch, Sun said Buffett has accepted his Tron and Bitcoin gift. It is no secret that Buffett has openly criticized cryptocurrencies. He even called BTC rat-poison-squared. In his interview with Beck Quick of CNBC, the legendary investor remained critical of the asset class saying:
“Cryptos have no value. This asset class doesn’t produce anything. They don’t reproduce nor do they deliver.”
Buffett thinks cryptos are a flawed asset class. He even compared the protocol to pyramid schemes. He, however, clarified that he does not own any Bitcoin or other cryptos.