He bought the popular software file-sharing application BitTorrent for $120 million last year. Demand for the coin surged when Sun announced the BTT token, able to run on both Tron and BitTorrent networks. On May 30, BitTorrent announced it will let users store files across a distributed network of computers using BTT.
Tron, meanwhile, has attracted scores of gaming and gambling applications. Earlier this year, Tron bought app store CoinPlay.
The bidding war for the lunch started May 26. It heated up early in the week and fell fairly quiet heading into the final day of the auction when a handful of bids came in that exceeded $4 million.
Although he’s deep into crypto, Sun said he trades traditional stocks and reads annual reports of technology companies. He hopes to learn more about Buffett’s value-investment strategy at the luncheon.
The time and place of the luncheon has yet to be determined, according to Sun. It’s typically held at the Smith & Wollensky steakhouse in New York.
Sun, who can invite as many as seven people to join him, said he’ll choose among his most-persuasive friends as well as the most influential people in the crypto community as it’s likely to be a tough sell to get the 88-year-old billionaire investor to change his mind.
“Cryptocurrencies will come to bad endings,” Buffett said in 2018 at his annual shareholder meeting.
This article was provided by Bloomberg News.