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’s Crypto Holding Surge By 1000%
This fascinating story began with a charity dinner, where Justin Sun paid $4.57 million for the extraordinary opportunity 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 an impressive 10x increase. Sun also highlighted 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: H.E. Justin Sun🌞(hiring) (@justinsuntron) September 6, 2024
Justin Sun further noted that if Buffett had staked his TRX, he could have made an even more remarkable return of 1300%, significantly outperforming the rest of his portfolio. This highlights the potential benefits of staking in the cryptocurrency market.
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. This remarkable performance underscores the potential of TRX as a valuable asset in the cryptocurrency market.
Conclusion
Warren Buffett’s TRX holdings, originally gifted by Justin Sun, have demonstrated an extraordinary 1000% surge from 2020 to 2024. This story serves as a prime example of the potential gains in the crypto market through long-term holding. Additionally, TRX’s impressive performance in the market, despite its volatility, highlights its potential as a resilient and valuable cryptocurrency asset. Investors and enthusiasts alike should take note of these developments when considering their own crypto investment strategies.
