Crypto entrepreneur Justin Sun made headlines on Friday by following through on a promise he made after purchasing a controversial artwork for $6.2 million – by eating the banana that was taped to the wall.
At a press event in one of Hong Kong’s top hotels, Sun bit into the banana in front of a crowd of journalists and influencers, following a speech where he praised the work as “iconic” and compared it to cryptocurrency. “It’s much better than other bananas,” Sun remarked after taking his first bite. “It’s really quite good.”
The artwork, titled “Comedian,” was created by Italian artist Maurizio Cattelan and sold at a Sotheby’s auction in New York last week. Sun was one of seven bidders. Reflecting on the moment he won the auction, Sun admitted he felt “disbelief” for the first few seconds before realizing the piece could become something much larger in the public’s eye.
Soon after, he decided to make history by eating the banana. “Eating it at a press conference can also become a part of the artwork’s story,” Sun explained.
The artwork had initially sparked debate when it debuted at the 2019 Art Basel in Miami Beach, with many questioning whether it should even be considered art. Cattelan himself had intended for the piece to challenge traditional views on art.
On Friday, Sun also drew parallels between the work and the emerging world of NFT art and decentralized blockchain technology, noting that much of its value lies in intellectual property and the virtual realm rather than the physical object itself.
Sun, who recently became an advisor to World Liberty Financial – a crypto venture linked to US President-elect Donald Trump – denied that his $30 million investment was politically motivated. “We are apolitical,” he stated, adding that his involvement would help bridge traditional finance with decentralized finance.
The 34-year-old entrepreneur, who has faced legal charges in the US for fraud and securities violations related to his crypto project, Tron, dismissed the allegations, stating that the case is still ongoing.
At the Hong Kong event, two men dressed as auction house staff stood beside the banana, which was the focal point of the gathering. Sun explained that he only recently decided to place a bid on the piece, and had initially wondered about the banana’s potential to decay and how the artwork’s value could be assessed.
Sun also suggested that the price of his new acquisition may increase over time, much like Bitcoin. “I think the price will probably go up even more in the future, just like Bitcoin,” he said.
