Will Warren Buffett change his view of cryptos after his $4.75 million lunch with Justin Sun?

[Lawrence McOchillo]

[Simon Mugo]

It is highly unlikely that Warren Buffett will suddenly become a crypto enthusiast following his $4.75 million lunch date with Tron Founder Justin Sun, but most people are hoping that he will acknowledge cryptos in one way or another.

However, from a marketing standpoint, the lunch has provided a major boost for cryptos given Buffett’s characterisation of the currencies as ‘rat poison squared’ among other choice phrases in the past, which has made many institutional investors cautious towards cryptos.

Most crypto enthusiasts are hoping that he will, at the very least, admit that there could be some value in digital assets given his past aversion to tech stocks and his current investments in tech companies including Apple and Amazon.

Any sort of approval from Buffett following the lunch with Mr. Sun is likely to make other institutional investors more accommodative of cryptocurrencies and maybe even lead to significant investments from institutional players.

Regardless of the outcome, Buffett is not likely to invest in cryptos given that he has over $100bn in funds ready for investment, which makes smaller investments quite unappealing to Berkshire Hathaway.