Buy the world's most expensive banana! What is Sun Yuchen thinking? Sun Ge's interview reveals his bidding experience

"Slash Youth" Sun Yuchen has recently gained two new titles: "Catalan Banana holder" and "World Free Financial Advisor and Largest Investor of the US President Trump's Cryptocurrency Project".

Justin Sun's last sensational auction was in 2019, when he bid 4.567888 million dollars for Buffett's charity lunch. This time, Sun Yuchen also did not expect that the banana he bought for 6.24 million dollars would attract unprecedented attention. 'Even my relatives in the village saw the news and asked me about it.' On November 29, Sun Yuchen held a banana press conference at the Peninsula Hotel in Hong Kong, and publicly ate the banana.

After the meeting, Justin Sun accepted an interview with PANews. In addition to supporting Hong Kong as a gathering place for art and Web3, he also invested heavily in the Trump encryption project and is optimistic about the development of the US encryption market, and is confident about 2025.

Image source: PANews

The world's most expensive banana has sparked global follow

Sotheby's auctioneer Buck exclaimed as the bidding price kept soaring: "I never thought I would say 'a banana for 5 million dollars'." In the end, this banana was sold for a price of 5.2 million dollars, and the total transaction price including the handling fee reached 6.24 million dollars. Sun Yuchen paid the auction fee with Cryptocurrency.

Before the auction, Sun Yuchen's team estimated the value of the banana to be $2 million to $5 million. 'There were a total of 7 bidders. In fact, I didn't think I could necessarily win the bid, so I set a bottom line for myself. If it exceeded $5 million by a lot, I wouldn't buy it,' Sun Yuchen said. He felt a bit incredulous within 10 seconds of successfully winning the bid, considering he initially participated just for fun. Following this, he received unexpected interview invitations from global media. Subsequently, he made a decision to eat the banana, becoming a part of its historical significance.

According to reports, the banana was purchased by Sotheby's staff from a fruit stand in the Upper East Side of Manhattan that morning. The owner of the fruit stand is from Bangladesh and revealed that the price of this banana is 0.35 US dollars. This means that the final auction price is 14.85 million times the actual value of the banana.

"The most expensive banana in history" has successfully entered major news and social media hot searches, and the expensive auction itself is a true reproduction of the meaning of the work. Italian artist Maurizio Cattelan's concept artwork "Comedian" looks like a fresh banana taped to the wall. The original intention is to challenge the audience's traditional perception of art in a humorous and absurd way. Through an ordinary banana, the value of art, the nature of consumerism, and the absurdity of the art market are explored, with the intention of satirizing market speculation. Before the auction, the BAN meme coin launched by Vice President Sotheby's also successfully warmed up the auction event in the crypto circle, and BAN's Market Cap also reached a maximum of $378 million. It was also this meme coin that made Sun Yuchen notice the auction of bananas.

Image source: PANews

In fact, there are only three limited editions of this work in total, two of which were sold for $120,000 each in 2019, and the third was donated to the Guggenheim Museum. Each 'work' comes with a corresponding certificate of collection and installation instructions, and the owner can replace the banana at any time according to their own wishes. So even if Sun Yuchen eats this banana, he can replace it with another one. Previously, when the work was exhibited in Miami and Korea, it was also eaten by the audience.

"This is not just a piece of art, it represents a cultural phenomenon that connects art, memes, and the Crypto Assets community. I believe this work will inspire more reflection and discussion in the future, and will become part of history."

In the eyes of Sun Yuchen, this banana is also in line with the spirit of blockchain. "It can be assembled at will and exhibited anywhere at will, as long as it is authorized by me. This is also equivalent to the charm of decentralization, a bit like the world of blockchain and encryption."

In fact, Sun Yuchen had previously attempted to combine art and the encryption community. In 2021, when the concept of Non-fungible Token was hot, he gifted his own holdings of Picasso's "Reclining Nude with Necklace", encryption artist Beeple's "Ocean’s Front", "ABUNBANCE" (5 pieces), and the entire set of Non-fungible Token works "Cube" by encryption artist Pak to the APENon-fungible Token Foundation. These masterpieces totaled over 200 million RMB, all of which were used for the APENon-fungible Token Foundation's exploration in "art + blockchain".

The $6.24 million banana is certainly expensive, but it has successfully triggered global follow.

Will try to convince Trump to come to TRON TRON development, 2025 is the year of encryption

In Sun Yuchen's mind, banana holder is just a hobby tag, and another new headline he recently added, "US President Trump's Cryptocurrency Project World Financial Advisor and Largest Investor", has also gained widespread follow.

Public reports indicate that Justin Sun invested $30 million in World Liberty Financial (WLFI), making him the largest investor in the project.

Image source: PANews

When asked why to invest in WLFI, Sun Yuchen said: "I have been in this industry for 12 years, experienced three cycles, many people may think that our industry may not be advanced enough in technology and many other aspects, still need mass adoption. People often ask, what are you doing, what is the use? My view is just the opposite, I think our industry technology and everything are ready. It's just that regulation for many reasons has prevented us from using it, restricting its use.

In the view of Justin Sun, the Stable Coin on TRON TRON is the most typical case. The innovation of Stable Coin technology goes far beyond banks and SWIFT, but it is still restricted in many places. Regulation should start from the United States, as it is a demonstration for all countries and everyone looks at the example of the United States.

"I understand crypto after all, so I can get a lot of information about how crypto thinks, what direction is the easiest, and how to get the most customers, and share WLFI. There is a strong synergistic effect between us. 'World Liberty Financial' is a project that combines TradFi and blockchain, hoping that traditional banks can also deposit money into Decentralized Finance and that the money of Decentralized Finance can also enter TradFi."

Justin Sun said he would also persuade Trump to develop Decentralized Finance on TRON TRON. In the future, if WDFI issuance new US dollar Stable Coin, I will suggest him to issuance on TRON TRON. Currently, a lot of USDT is used on exchange, used for some payments, and has not yet entered everyone's life. 'I think with WLFI, it can allow Decentralized Finance, including TRON TRON, to enter everyone's life, this is my dream.'

"I think 2025 is indeed a big year. The encryption industry has a clear four-year cycle, and now it is combined with Trump's election and a regulatory-friendly environment. However, I won't predict the price because sometimes the price exceeds your expectations." Sun Yuchen recalled that he bought 0.5 BTC for $0.5 on Taobao. In a price-insensitive era, everyone thought it was crazy when it rose to 10 yuan.

[Disclaimer] There are risks in the market, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Investing based on this is at your own risk.

This article is authorized to be reprinted from: "PANews"

Original author: ZEN, PANews

"Buy the world's most expensive banana! What is Sun Yuchen thinking? Brother Sun reveals his bidding experience in an interview." This article was first published in 'encryption city'