TRON’s Justin Sun Invites LTC Founder Charlie Lee to Lunch with Warren Buffett
Lee was pronounced one of the most influential voices on crypto-related social media.
Justin Sun has started announcing the co-invitees to the Warren Buffett charity lunch coming up in July, and the first one is Charlie Lee, creator of Litecoin (LTC). The co-founder of TRON (TRX) won the auction to this year’s lunch for $4.6 million.
Lee is also known for his role with the Magical Crypto Friends, a group of commenters with a Bitcoin maximalism slant, who also try to keep the peace when it comes to conflict between opinion makers on the future of the leading coin. Lee is also known for being a voice of reason, discouraging outlandish optimism on price appreciation.
Lee’s creation, Litecoin, came to the spotlight in 2017, after being added to Coinbase as one of the first few altcoins. Starting off from a price of just around $2 and a history of short rallies, LTC was called a “chicken” - but in late 2017, LTC climbed above $350.
At this point, Lee warned of too much exuberance and that LTC could go back to $22 - which it did, in late 2018. But LTC also became one of the best-performing assets in 2019, marking a yearly high above $140. LTC is getting a boost from the upcoming halving of the block reward. But the asset is far from a defunct “dead” coin - in fact, its hashrate is rising based on a new ASIC getting released. The coin also receives significant liquidity based on increased Asian trading volumes.
Justin Sun’s move to win a meeting with the most iconic mainstream investor, Buffett, was viewed with some skepticism but also pronounced a step in the right direction. True to his habit of using social media to create suspense, Sun will be announcing the other guests one by one. In the past months, Buffett has expressed his skepticism about Bitcoin and it remains to be seen how he receives input from industry leaders.
Moreover, as the year progresses, digital assets are making more bids at mainstream adoption. Bakkt, the upcoming Bitcoin futures exchange, has already set up a significant infrastructure for storing BTC and is scheduled to begin testing its physically settled Bitcoin futures soon.