Chinese blockchain entrepreneur Sun Yuchen, who won a charity auction for a lunch with Berkshire Hathaway CEO Warren Buffett, told the Global Times that he hopes to update the billionaire on the technological progress in the blockchain and cryptocurrency world and clear up some "misunderstandings" Buffett has about the technology face to face.

"Last year, I read some 'controversial statements' from Buffett on cryptocurrency. I think the root reason for his misunderstanding is because there is no one 'good enough' to explain the technology. So I hope the lunch will help him form a deeper understanding of cryptocurrency," Sun told the Global Times in an exclusive interview Tuesday. 

Sun, the 28-year-old founder of blockchain platform TRON, revealed on his Weibo account Tuesday that he had won an annual charity auction to have lunch with Buffett through his $4.6 million bid - a record high.

Buffett is not a fan of cryptocurrency, according to media reports. At the latest Berkshire Hathaway annual meeting in 2019, Buffett took a hardline stance on Bitcoin, calling it "a gambling device" and opining that the cryptocurrency is not a productive asset. 

Sun did not directly respond to questions regarding whether he could persuade Buffett to change such perceptions. 

"As a firm upholder of Buffett's investment theory who has benefited a lot from the theory and made a fortune, I believe his theory and the blockchain technology have something in common. For example, Buffett's theory stresses that time will demonstrate the value of investment. This is the same with cryptocurrency," he said. 

Sun also identified the lunch with Buffett as a perfect opportunity to "bridge the communication and friendship between the cryptocurrency world and traditional investors as well as traditional financial institutions."

New technologies will always come with controversy, and the lunch with Buffett will also help inform the general public about cryptocurrency, he added.

China had banned bitcoin trading in September 2017 and shut down domestic trading platforms. The country also banned initial coin offerings. In a further sign of a tightened grip on virtual currencies, China's top economic planning agency, the National Development and Reform Commission, also released a list that eliminated mining activities.