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Justin Sun won the bid to have lunch with Warren Buffett, paying $4.57 million

June 3, 2019, 12:34PM EDT

Tron founder Justin Sun announced on Monday that he won the bid to have lunch with Wall Street legend Warren Buffett, paying a record $4,567,888.

Sun started to build the hype for this news a week before, saying that a lunch with Buffett will be a “big win for the blockchain community.” In the twitter announcement today, Sun also mentioned that he will invite blockchain industry leaders to the lunch.

The Berkshire Hathaway billionaire is known to be skeptical about cryptocurrencies, which he has criticized as “a delusion” that have “no unique value.” In a Medium post, Sun seems to insinuate that Buffett may have been wrong about cryptocurrencies, citing his previous failure to recognize the potential in firms like Amazon, Alphabet, and Google. Sun hopes that a lunch with Buffett might change his mind and therefore inject confidence to the entire industry.

"I believe we in the blockchain community are at the beginning of an era of immense technological and financial growth," Sun wrote in the Medium post. "I also firmly believe that with the right communication and understanding, Buffett will change his overall stance on cryptocurrency and blockchain, allowing this new investment strategy to become integrated into his overall portfolio."

The 2019 lunch bid is nearly one-third higher than the previous record set in the 2016 auction. It attracted 18 bids from five bidders. All proceeds from the auction will go to the Glide Foundation, a San Francisco-based charity Buffett has been working with for past auctions.