Warren Buffett’s Small Crypto Investment Turns Into 1000% Surge: Justin Sun Weighs In
Mustafa Mulla7 Sept 20241 min read
In 2020, Justin Sun, the founder of the Tron blockchain, famously gifted 1,930,830 TRX coins to renowned American entrepreneur Warren Buffett. At the time, the value of the TRX gift was approximately $31,086. Fast forward to 2024, that same holding has surged by 1000%, bringing Buffett’s TRX holdings to a remarkable $289,000.
Warren Buffett Crypto Holding Surge By 1000%
This was all began with a charity dinner, where Justin Sun paid $4.57 million for the chance to dine with Warren Buffett. During that 2020 dinner, Sun gifted Buffett 1.93 million TRX coins, worth around $31,086 at the time.
According to Sun, Buffett has held onto those TRX coins for 1,688 days, during which their value has skyrocketed by over 1000%. The initial $31,086 has now surged to $289,000, marking a 10x increase. Sun also pointed out that Buffett’s TRX holdings have generated an average daily return of 0.6%.
Justin Sun further noted that if Buffett had staked his TRX, he could have made an even more remarkable return of 1300% gain, significantly outperforming the rest of his portfolio.
TRX Outperforms Crypto Market
TRX has been one of the best performers in the market since April, gaining over 42%, even as the broader crypto market saw corrections. Despite reaching a yearly high of $0.17 in August, the TRX price has since fallen to $0.15, showing some volatility.
Meanwhile, in August, Tron secured the second-highest Total Value Locked (TVL), ranking just behind Ethereum. It nearly doubled the TVL of Solana and BNB Chain, which held the third and fourth positions, respectively.
However, the coin’s long-term growth remains a testament to its resilience, especially in volatile market conditions.
