Justin Sun, a cryptocurrency entrepreneur and Donald Trump supporter paid $6.2 million for a banana taped to a wall, only to eat it onstage during a Friday event, declaring that “the real value is the concept itself,” much like a digital asset.
Sun ate the banana, part of Maurizio Cattelan’s conceptual artwork Comedian, during a Hong Kong press event, calling it “much better than other bananas” and praising the piece as a symbol of the intersection between art and cryptocurrency.
Sun acquired the artwork last week during a Sotheby’s auction in New York, significantly exceeding the estimated value of $1-$1.5 million. The purchase included a certificate of authenticity and instructions to recreate the piece, allowing the owner to tape any banana to a wall and call it Comedian.
At the press conference held in The Peninsula Hong Kong hotel, attendees received bananas and duct tape as souvenirs. Sun declared his performance was an extension of the artwork’s history, saying, “The real value is the concept itself.”
The original work gained notoriety at Art Basel Miami Beach in 2019, where it provoked debate about the boundaries of contemporary art. Sun drew comparisons between conceptual art and the rise of NFTs (non-fungible tokens), emphasizing how both often derive their value from intellectual property rather than physical assets.
He also tied his purchase to broader cryptocurrency innovation, stating that Comedian represents a “cultural phenomenon that bridges art, memes, and the cryptocurrency community.”
Maurizio Cattelan’s Comedian caused a stir at its 2019 debut. Festivalgoers debated whether it was a joke or a critique of art collectors’ questionable standards. At one point, another artist removed and ate the banana.
The artwork drew so much attention that it had to be removed from display. Despite the controversy, according to the gallery managing the sales, three editions sold for $120,000 to $150,000 each.
Sun’s flamboyant actions come amid his legal troubles with the U.S. Securities and Exchange Commission. Last year, the SEC accused him of securities fraud and selling unregistered assets through his blockchain platform TRON. Sun has denied the allegations, calling them baseless.
Justin Sun eats a banana in Hong Kong on November 29 after buying the work of conceptual art at an auction for $6.2 million. The debut of the edible creation in 2019 entitled “Comedian” raised questions about whether it should be considered art.
Photo by Peter PARKS / AFP) (Photo by PETER PARKS/AFP via Getty Images
The event also highlighted Sun’s financial connections to Trump. Earlier this year, he invested $30 million in Trump’s cryptocurrency venture, World Liberty Financial. He became an advisor, describing the partnership as part of his mission to “lead innovation and make America great again.”
While Sun’s actions drew global attention, critics questioned their significance. Some argued it trivialized art and reflected excess in the art and crypto markets. As one commentator noted, “He didn’t eat $6 million; he ate a banana.”
Despite the backlash, Sun vowed to use Comedian to promote art and blockchain integration. “Everyone has a banana to eat,” he said, “and that’s the beauty of connecting everyday life to art.”
