Blog: Disruption, Speculation and Money
Is crypto like a banana taped to the wall?
Many of you have probably heard that a sculpture, titled Comedian, was auctioned for $6.5 million last week. The "sculpture" is a real banana duct-taped to a wall. Believe it or not, that's up from the $120,000 Comedian originally sold for in 2019. Somebody turned in a nice capital gain. The winner received one banana, a roll of duct tape, and instructions on replacing the tape and banana over time.
Tellingly, the new owner, Justin Sun, is tied to the crypto industry. He bought Comedian just as Bitcoin closed in on $100,000.
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