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There are two kinds of people when it comes to handling criticism. The first kind fires back then and there and the second ones wait for the correct time and hammer it down. The second ones are the smartest and most cunning ones.
Warren Buffett, the legendary investment expert, and Berkshire Hathaway CEO has been a long time critic of cryptocurrencies, and took the criticism a notch higher when he compared Bitcoin and digital tokens to “rat poison squared.” The entire crypto space, especially enthusiasts, went all guns blazing on social media against Buffett, as what he said was a big humiliation for the community.
However, there was one soldier of the crypto army, probably the most powerful one, who held back his emotions and remained silent. He was Changpeng Zhao, CEO of Binance. Zhao did react too much on Buffett’s remarks and waited for the right moment to give it back to the investment Kingpin.
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And the world gave Zhao the opportunity he wanted. TRON network chief, Justin Sun announced yesterday that he would be attending a Charity Lunch with Warren Buffett, after bidding $4.57 million. This is what CZ was waiting, and he made the perfect move.
First, he apologized that he couldn’t accept Justin Sun’s invitation for the Charity Lunch, as the auction winner can take up to 20 people along with himself.
.@justinsuntron kindly invited me to go, but I can't make it. Too far. I guess that's like turning down $1,000,000, assuming 5 guys going, lol… But very much appreciated.
I would totally recommend inviting @APompliano.
Couple other thoughts: https://t.co/igVo03Ifzu
— CZ 🔶 BNB (@cz_binance) June 4, 2019
The subsequent tweet was killer, in which CZ stated that Buffett will be eating “rat poison”, making a stinging reference to Buffett’s harsh remarks made a few weeks ago. He further suggested that even if crypto entrepreneurs buy him lunch for the next ten years, it would just be $50 million, which could be a decent sized ICO.
He also made a sarcastic remark that famous people make others pay millions to educate them, referring that Sun, who paid the auction money, would educate Buffett about digital currencies. And finally, CZ congratulated TRON founder for pushing crypto adoption.
Lastly, very smart move for @justinsuntron, now the whole traditional financial industry has eyes on #crypto (and $TRX of course). Who is this #crypto kid? Kudos for pushing adoption, Justin! 👐👍👏
— CZ 🔶 BNB (@cz_binance) June 4, 2019
When Buffett made the harsh remarks, many said that it was because his investments were at risk due to cryptocurrencies. Buffett holds a substantial number of shares in traditional financial institutions, which are threatened by the growing influence, popularity, and market reach on crypto. Moreover, there was a time when Buffett discarded Amazon as an internet bubble, and the bubble turned out to be his biggest lost opportunity.
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Buffett has been criticizing crypto for having no use. He compared Bitcoin with the button of his suit, as both have limited functionality. However, CZ’s remark seems a bit too harsh. Buffett termed crypto as rat poison, but CZ’s “will eat rat poison” remark is making things a bit too personal.
