Don’t understand Bitcoin? Prepare to vaguely understand Bananacoin, the latest cryptocurrency to hit the market. Simply put, it’s the world’s first option for investing in the production of organic bananas. As of Wednesday morning, around 3.4 million bananacoins had been sold at $0.50.
Basically, each “bananacoin” that you purchase (according to a report by Munchies) represents over two pounds of bananas grown in Laos on a plantation owned by Oleg Dobrovolsky, Alexander Bychkov, and agronomist Prasan Sangsatjatham. The plantation grows Lady Finger bananas (the world’s most profitable banana) and then exports them to China, where they are always in demand — proving true our favorite Arrested Development hypothesis: “There’s always money in the banana stand.”
According to Bananacoin’s proposal, “Growing Lady Finger bananas has great potential for business growth, thanks to the favourable weather conditions in Laos, while the growing Chinese market translates into further business growth potential.
Still not totally getting it? China needs bananas. The Bananacoin plantation is growing premium Lady Finger bananas. When you buy a Bananacoin, you are investing in the supply and demand of those bananas going to China.
It’s a business model even Lindsay Bluth could sort of understand! Have we sparked your interest in the potassium-filled yellow fruit? Learn more by exploring the surprising history of the banana.