TRON’s CEO, Justin sun, does not view Bitcoin as an investment vehicle. In an interview with CNBC, Sun said that big businesses are bashing Bitcoin for no reason. Bitcoin does not have good press among businessmen like Warren Buffet.
Justin Sun was discussing the general state of the markets. He is the CEO of both BitTorrent, the file-sharing client, and TRON, the blockchain developer.
Bitcoin Appeals to the Younger Generations
Sun argued that despite the bear market, it is still very popular among the youth. Due to this, his view of the future is very promising. In response to Buffet’s stance on Bitcoin, Sun said that Bitcoin is ‘a technology, not a business opportunity.’
Currently, a second layer of tech is being built on the Bitcoin network. New tech like the lightning network is improving Bitcoin’s adaptation to the needs of its users.
These technologies are heralding the next wave of the internet. There are emerging opportunities that entrepreneurs and developers can take advantage of.
The End of the Bear Market
Sun’s sentiments seemed to be different compared to what he said in February. He had stated that Bitcoin’s price will fluctuate between $3,000 and $5,000.
However, he speculated that the market has bottomed already. The current levels are on their lowest. With continued use by more people, prices may recover in the future.
TRON and BitTorrent
During the interview, Justin took the opportunity to sing praises for his projects. He said that more people are going to get into the industry in the future. BitTorrent, according to him, gets 100 million users per month. There are active p2p file-sharing people from over 178 countries.
The TRON CEO said that Facebook, which is planning to roll out its own crypto, will bring in more users to the industry. He painted a bright picture of the future. Per Sun,
I think, basically, right now the biggest opportunity is the mass adoption. For example […] the cryptocurrency we are introducing into the BitTorrent network, one of the largest file transferring networks in the world. We have over 100 million monthly active users in over 178 countries. I think lots of the companies like Facebook will also bring a lot of people to the industry as well.
Talking about TRON, he was modest about the fact that it has the 10th largest market cap. He cautioned that people should not use market capitalization. Instead, he said that the focus should be in the underlying technology.
At the time of writing, TRON (TRX) is trading at $0.022568.
Do you think Justin Sun is right in thinking that Warren Buffet is overly critical of Bitcoin? Let us know in the comment section below!