To everyone's surprise, this year's sky-high price auction of Buffett's charity lunch is another Chinese. This is the fourth Chinese to eat with Buffett through auction. However, the price of eating with Buffett is also increasing, and this year it has reached a record 4567888 US dollars, equivalent to 30 million yuan.
So, who is the fourth Chinese to eat with Buffett? And what's going on? Or to put it another way, what is the purpose of his spending a sky-high price on eating with Buffett? What are the demands? This mysterious figure is Sun Yuchen, the founder of Tron, a post-90s "coin circle bigwig", playing digital currency, he is proud of his status as the first student of Lakeside University, and is called "Ma Yun's youngest disciple".
<h1 class="ql-align-justify" >1, Sun Yuchen: Founder of Tron TRON</h1>
At noon on June 3, EST, Sun Yuchen, who was certified by Weibo as the first student of Jack Ma Lakeside University and the chairman and CEO of the App, posted on Weibo that he "officially announced to everyone that he successfully photographed Warren Buffett's 20th anniversary charity luncheon with a record-breaking 4567888 US dollars." According to Sun Yuchen, he is also the founder of TRON and CEO of BitTorrent, the world's 11th largest digital currency. 4567888 million dollars broke the record for the highest bid amount in 20 years for the luncheon.
According to public information, Sun Yuchen, born in 1990, holds a master's degree from the University of Pennsylvania and a bachelor's degree from Peking University. Founder of Trontron, founder and CEO of mobile social app Companion App, founder and CEO of Ripple, initiator of "Road to Wealth Freedom Revolution", founder of Tron TRON Foundation. 2011 Asia Weekly Cover Character, 2014 Davos Global Outstanding Youth, 2015 Forbes China 30 Under 30 Entrepreneurs. In 2015, cnTV China Internet Annual Emerging Figure, in 2015, he became the only post-90s student among the first batch of students of Lakeside University founded by Jack Ma, and 30 entrepreneurs under 30 years old in Forbes Asia in 2017. In December 2018, it ranked 29th in the list of Post-90s Writers in China in 2018.
<h1 class="ql-align-justify" >2, TRON is the world's 11 largest cryptocurrency by market capitalization</h1>
Tron is said to be the world's largest blockchain decentralized application operating system, according to CoinMarketCap.com statistics, Tron coin is the world's 11 largest cryptocurrency by market capitalization, with a market capitalization of $2.56 billion, while the market value of the industry leader Bitcoin is nearly $152 billion. In the past 24 hours, the TRON coin has risen by 1.43%, and the price has risen by about 100% this year.
It is understood that Tron TRC is a hard fork token launched by Tron company Sun Yuchen and USDT TEDCOin Company, and it is also the second chain created by the two sides relying on the TRX main network. TRX is the mainnet, TRC is the side chain, and TRC has made further optimization and upgrading on the basis of the mainnet. Tron TRC has been upgraded to directly enter the top 6 positions in the world coin circle, with a market value of more than 100 billion yuan and a payment efficiency of more than 400 times faster than Ethereum.
On April 29, Masayoshi Son, chairman and president of Japan's SoftBank Group, invested in a virtual product, Tron TRC, after investing in the virtual currency Bitcoin. When investing in Bitcoin losses, Son Zhengyi sold Bitcoin to the Tron TRC, do you want to take this opportunity to flip? Son is known for his high-stakes, gambling-style investment style, and his investment in Yahoo has made him famous, and his investment in Alibaba has put him on the throne of Japan's richest man. He is known as the "Buffett of Japan" for his unique vision and amazing return on investment. But unlike Buffett, who favors traditional brick-and-mortar industries, Son has targeted the high-tech and creative industries from the start.
<h1 class="ql-align-justify" >3, Purpose: I hope to invite well-known people in the blockchain industry to communicate with Buffett</h1>
Sun Yuchen's reason for bidding on Buffett's charity lunch, in addition to having the special significance of the popularization of cryptocurrency education, the underlying reason is similar to others. Sun Yuchen said that he will also trade traditional stocks and read the annual reports of technology companies, hoping to learn from Buffett's value investment strategy at lunch. Previous lunch auction winners were David Einhorn, founder of Greenlight Capital, who won in 2003, while Ted Weschler, one of Berkshire's current investment chiefs, won the auction twice before being included by Buffett.
According to Sun Yuchen' self-proclaimed: I have always been a long-term believer in Buffett's value investment philosophy, and I hope to invite well-known people in the blockchain industry to communicate with Buffett, so as to enhance the understanding and friendship between top traditional investors and digital currencies, so that the entire industry can truly benefit!
<h1 class="ql-align-justify" >4. Buffett: Cryptocurrencies don't have any unique value at all, they're basically fantasies</h1>
Buffett's aversion to Bitcoin is well known and has been shelled many times. In an interview with CNBC in February this year, Buffett said that cryptocurrencies do not have any unique value at all, it is basically a fantasy, and said that Bitcoin attracts scammers. Buffett believes that while the blockchain behind the technology behind Bitcoin is important, the success of this technology does not depend on cryptocurrencies, and said that virtual currencies are different from land or company stocks, not value-added assets, and the value of virtual currencies depends on more people entering the market. Therefore, investors' demand for virtual currencies is the only price determinant, making digital currencies a convenient tool for "crooks".
At the 2018 shareholder meeting, Buffett said that I think the final result of cryptocurrencies will be terrible. Because it doesn't produce any value. And you'll also face some tough issues like exchange rates. So now a lot of people see such an opportunity and hope to get rich through such an opportunity, or see that the neighbors have become rich, but I don't think the prospect is too good.
Buffett's old partner, Charlie Munger, said that I hate cryptocurrencies even more than you do, and to me, it's simply a confused reaction, and a lot of cryptocurrency traders, I think it's just disgusting. It seems that when those people are trading some completely meaningless, you say that I can't be left behind, and I want to join in, what is the logic of this? We're doing a live broadcast all over the world, and I hope the translation doesn't translate too directly, so it's not very good to translate it.