EXCLUSIVE: Crypto tycoon who paid $6.2 million for a duct-taped banana plans to eat it

“I plan to eat it,” Sun revealed in an exclusive chat with Arabian Business. Yes, you read that right. The banana—dubbed Comedian by Italian artist Maurizio Cattelan—may be conceptual art’s most expensive snack, but for Sun, it’s a symbol of a new era.

“I think more art in the future will be conceptual rather than real pieces,” Sun explained. “I own a Picasso and an Andy Warhol original, but that is traditional art, and the insurance price is incredibly high. Banana is the first conceptual art I’ve bought, and actually, it took some time to process the concept, but I believe conceptual art is becoming more popular and is more affordable.”

The banana itself, purchased earlier that day for $0.35, was elevated into the stratosphere of value by a piece of grey duct tape and the idea behind it. Critics call it absurd. Sun calls it genius.

While many scoff at the simplicity of Comedian, Sun defended the thought process behind it. “The piece itself required ‘no skill’ to create, but the thought process to tape a banana to the wall was ‘very deep.’”

For Sun, the choice of fruit is central to the work’s impact. “Banana is the number one fruit in the world. And if you consider taping an apple to the wall or an orange to the wall, it’s very hard and will easily fall. Also, if you look at the banana from 100 meters away, it’s very easy for you to know it’s a banana on the wall, unlike an orange or an apple. So actually, I think when the artist made this specific art, he did a lot of investigation and calculation to see what’s the best way to display this conceptual art, and it’s very successful.”

The crypto mogul likened his audacious purchase to the early days of Bitcoin, drawing a direct line between conceptual art and digital currency.

“Anyone and everyone could tape a banana to the wall, but this is the concept that I bought at auction,” Sun said. “I see it as the first time someone traded pizza with Bitcoin back in 2009. That’s when Bitcoin had actual value. This is the same here—it’s the first time someone is paying real money for conceptual art, and it will be a new era for the art form.”

Sun is no stranger to unconventional investments. As the founder of TRON and a billionaire in the cryptocurrency world, he’s used to taking risks on ideas others dismiss. “When I first got into Bitcoin, people didn’t really care about it. They were laughing, thinking we are crazy, but now Bitcoin is trading at around $100k because people start to appreciate and realise that actually, the concept is more powerful than the physical item. It’s why I believe conceptual art has a very successful future.”

The auction began at $800,000, with bidding quickly escalating into the millions. While Sun had anticipated the piece might sell for $5 million, he admitted he was prepared to push a little further to secure it. “If you are talking maybe 8 million or 10 million, I probably think it’s too high. So I think the current price was within my budget, so it was perfect.”

For Sun, the banana’s perishability isn’t a flaw; it’s part of its message. “The banana will decay, so if I don’t eat it soon, it will go bad. I think it represents life. Life is decaying all the time, so we need to enjoy our life before we grow too old. So it represents a good idea.”

Whether eaten or left to rot, Sun sees the banana as a symbol of the fleeting nature of both life and art.

Predictably, the purchase has sparked fierce debate. Critics call it wasteful and indulgent. Sun, however, sees their outrage as proof of the artwork’s power.

“Controversy comes to great things. We can revisit the banana in the next ten years, and we’ll see how it plays out. I think I’ll be laughing.”

Justin Sun told Arabian Business he’ll eat the banana on Friday 29 November, inviting the world’s media to a press conference, where he’ll indulge the fruit he paid more than $6 million for.