Justin Sun Tron Founder Gifted 1.93 Mln TRX to Warren Buffett, Value Surged 1000%
- WBOYOriginal
- 2024-09-07 18:32:13818browse
Warren Buffett's 1.93 million TRX holding grew from $31,086 to $289,000 since 2020. TRX ranks second in Total Value Locked, just behind Ethereum in August 2024.
In 2020, Justin Sun, the founder of Tron blockchain, gifted 1,930,830 TRX coins to Warren Buffett during a charity dinner. At the time, the TRX gift was valued at $31,086. Now, fast forward to 2024, that same holding has surged by 1000%, bringing Buffett’s TRX holdings to a remarkable $289,000.
This story 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, which were 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%.
.@WarrenBuffett has held TRX for 1,688 days and gained over 1000%, with a daily return of 0.6%. His story shows that the only way to win in crypto is to hold. (btw, if he had staked TRX, his return would have been 1300?) His address: https://t.co/n7gg5TfLxU
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 has been one of the best performers in the market since April, gaining over 42%, even as the broader crypto market saw some 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.
Here's an overview of the top 15 #blockchains by TVL in Aug 2024, excluding Ethereum. pic.twitter.com/jTUsEbceTh
However, the coin’s long-term growth remains a testament to its resilience, especially in volatile market conditions.
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