The BitTorrent cryptocurrency price tanked over 6% in Monday trading after Tron CEO Justin Sun’s latest announcement stunt flopped in hilarious fashion.
Tron Founder Will Pitch Crypto to Bitcoin Hater Warren Buffett
It turns out Sun was the mystery bidder who won a charity lunch auction to dine with investing oracle Warren Buffett. This year is the 20th anniversary of Buffett’s annual charity “power lunch” auction, and a record-setting bid of $4.5 million for the lunch date made headlines Friday. The previous record was $3.45 million in 2016.
Shortly after the news broke, Justin Sun took to Twitter for one of his infamous Tron and BitTorrent price-pumping “pre-announcements.” The crypto tycoon breathlessly told Tronsters to “stay tuned” for a “Big reveal.”
‘Please Tell Me This Isn’t the News’
But cryptocurrency traders are feeling bearish about BitTorrent (BTT) and Tron (TRX) Monday. CoinMarketCap showed Tron’s price had dropped 3% after the big reveal, outpacing Bitcoin’s minor pullback. The BitTorrent cryptocurrency suffered an even larger downturn.
The announcement was more than disappointing for cryptocurrency investors and traders, who apparently expected something more substantive.