Cryptocurrency entrepreneur Justin Sun shelled out $4.6 million to attend a charity dinner with Warren Buffett in January in the hopes of converting the investing legend to a Bitcoin afficionado. Instead, another guest at the table became a value fan. This according to an article in Business Insider.
The other guest, Yoni Assia (CEO of social-trading platform eToro) reportedly tweeted “Warren Buffett’s value-investing strategy still rings true,” hired a value-investing consultant and directed his team to “spread the word about the power of in-depth research and longer investment timeframes,” the article says. Assia described Buffett’s approach as a hidden magic that reveals itself to you only after 20 years of making 15-20% and compounding.”
According to the article, Assia’s social trading platform eToro has 15 million registered users and more than $1 trillion in trading volume and plans to enter the U.S. market to face off against Robinhood in the coming year.
“Unsurprisingly,” the article notes, eToro also lets user copy a portfolio modeled on Buffett’s holdings.”