As we’ve discussed in these digital pages, there are all sorts of things that tend to cause bitcoins and other cryptocurrencies to decline, generally precipitously, in value, few if any of them having to do with the “fundamentals,” such as they are. To this list we can now add, “minor if painful—albeit perhaps less painful than losing one’s shirt on the stuff—medical condition on the part of a cryptocurrency’s founder leading to a raincheck on a steak lunch.”

The digital token known as Tron tumbled as much as 16% after cryptocurrency entrepreneur Justin Sun postponed his charity lunch meeting with billionaire Warren Buffett citing a bout of kidney stones.

Suffice it to say, that is not likely to have Buffett or buddy Charlie Munger rethinking their positions on matters crypto. Still, the fact that the Oracle of Omaha graciously agreed to come to San Francisco at a mutually-agreed later date to have his time wasted for charity, that should be that. Except, of course, that we are in cryptoworld, where tinfoil hats are de rigueur, conspiracies are everywhere and people don’t just like, get kidney stones at inopportune times. Open your eyes, sheeple. Jeez.

The postponement came only hours after Sun tweeted invitations to other crypto boosters to join him, spurring speculation there may be other reasons for the decision. Sun denied media reports that he was involved in illegal fundraising and money laundering, according to China’s state-run Global Times.

Buffett Lunch Winner’s Crypto Coin Tumbles After Meeting Delay [Bloomberg]


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Brace Yourself For Buffettcoins

Berkshire Hathaway’s brain trust has said a lot of terrible things about cryptocurrencies and gold, and they just invested half a billion dollars in gold.