The post Justin Sun: TRX Gift to Warren Buffett Sees 10x Growth in 4 Years appeared on BitcoinEthereumNews.com.

Justin Sun, the founder of the Tron blockchain network, has revealed that the TRX tokens he gifted to renowned investor Warren Buffett have surged in value by nearly tenfold over the last four years. In a recent post on social media platform X, Sun highlighted that Buffett’s 1.93 million TRX tokens, gifted during a high-profile 2020 dinner, are now valued at approximately $289,000. This remarkable growth has led Sun to claim that the TRX holding has outperformed all other assets in Buffett’s portfolio during that time. In February 2020, Sun made headlines when he met with Buffett, one of the world’s most influential investors, for a charity dinner where he presented Buffett with a Samsung Galaxy Fold smartphone containing one Bitcoin (BTC) and 1,938,300 TRX. The meeting was part of Sun’s effort to promote blockchain technology and cryptocurrency adoption, hoping to sway the famously crypto-skeptical Buffett. However, Buffett, maintaining his distance from digital assets, later donated the crypto holdings to the Glide Foundation, a charity focused on helping the homeless and underserved communities. Warren Buffett‘s Crypto Holdings Surge At the time of the gift, the TRX tokens were valued at a fraction of their current worth. Sun’s recent announcement underscores the substantial growth that Tron has seen over the past few years. In particular, the nearly 10-fold increase in the value of the TRX tokens has been fueled by the broader growth of the cryptocurrency market and Tron’s ongoing developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain-based applications. According to Sun, Buffett’s TRX holdings have outpaced the returns of his traditional investment portfolios, which are primarily focused on stocks, bonds, and other conventional assets. While this claim may hold weight in the context of TRX’s growth over the past four years, it’s important to note that Buffett, who…

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Filed under: News - @ September 7, 2024 3:08 am