Justin Sun, the Chinese cryptocurrency entrepreneur best known for his bold investments, has taken his latest acquisition to a whole new level — by eating it. Sun, who made headlines recently for purchasing Comediana controversial artwork by Italian artist Maurizio Cattelan, bit into the banana taped to the wall, valued at a staggering $6.2 million (£4.9m).
I’m thrilled to announce that I’ve bought the banana🍌 !!! @SpaceX @Sothebys I am Justin Sun, and I’m excited to share that I have successfully acquired Maurizio Cattelan’s iconic work, Comedian for $6.2 million. This is not just an artwork; it represents a cultural phenomenon… pic.twitter.com/lAj1RE6y0C
— H.E. Justin Sun 🍌 (@justinsuntron) November 21, 2024
The piece, which debuted at Art Basel Miami Beach in 2019, sparked debates about the nature of art, especially as it was a simple banana affixed to the wall with duct tape. Sun purchased the artwork at a Sotheby’s auction in New York on November 20. But instead of simply admiring it from afar, Sun, known for his audacious moves, decided to consume the banana during a press event at one of Hong Kong’s most luxurious hotels.
In front of a crowd of journalists and influencers, Sun described the banana as “really quite good” and dubbed the act “iconic.” He drew a parallel between conceptual art and cryptocurrency, stating that both challenge traditional notions of value. “It’s much better than other bananas,” Sun quipped, adding that he believed the purchase could be a game-changer for the art world.
Despite initial doubts, Sun quickly became enamored with the idea of owning Comedian. He admitted to having “dumb questions” about the artwork, including concerns over whether the banana would spoil and how to determine its true worth. However, he quickly saw the potential, noting, “This could become something big.”
By eating the bananaSun claimed he was contributing to the piece’s history, adding another layer to its narrative. He also likened the artwork to the rise of NFTs (non-fungible tokens), pointing out that much like digital assets, the value of Comedian could increase over time, similar to Bitcoin.
Sun’s investment in the piece follows a series of high-profile moves in the cryptocurrency world, including a recent $30 million investment in World Liberty Financial, a project backed by US president-elect Donald Trump. However, his career has not been without controversy. Last year, the US Securities and Exchange Commission (SEC) charged him with offering and selling unregistered securities related to his TRON project. The case is still ongoing.
