Gigantic diamond sells for $12M in cryptocurrency at Sotheby’s auction

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Another sign that crypto is going to be mainstream at some point.

A flawless 101.38-carat diamond was sold at auction for more than $12.2 million in cryptocurrency Friday, making it the most expensive piece of jewelry ever peddled through crypto, according to Sotheby’s.

The massive diamond, called “The Key 10138,” was sold in Hong Kong to an unidentified private collector, said the 277-year-old auction house in a statement.

The gem is one of just 10 diamonds of more than 100 carats ever to come to auction.

The auction house had said it would accept payment for the diamond in either Bitcoin or Ether, but it was unclear which digital coin was used to buy the gem.

Despite the record sale, the diamond sold for less than the upper end of its estimated value of $15 million.

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Auction Houses such as Sotheby’s and rival Christie’s have increasingly taken to accepting cryptocurrency as payment this year as the popularity of digital coins surged.

Sotheby’s in May sold a Banksy piece for $12.9 million in crypto — the first instance of a work of physical art sold by a major auction house in exchange for cryptocurrency.

And back in March, Christie’s made waves by selling a non-fungible token for the first time ever. The NFT, or one-of-a-kind, blockchain-based, digital artwork, sold for a staggering $69.3 million.

Even as cryptocurrency has been increasingly embraced by institutions such as Sotheby’s, as well as banks and major US corporations, the value of the digital tokens remains extremely volatile.

Bitcoin, the biggest cryptocurrency by market cap, touched an all-time high of more than $64,000 in mid-April before falling back down and briefly dropping below $30,000, erasing its gains for the year.

Bitcoin was last seen trading at about $33,500 per coin.

Source - https://nypost.com/2021/07/09/gigantic-diamond-sells-for-12m-in-cryptocurrency-at-sothebys-auction/
 
you got to have some balls to accept crypto for payment for such a price

lol imagine this

"We never got it. Ths wallet number you screenshot for us is missing the last digit of our wallet"
 
It is immediately clear from the text that this news was invented in order to increase people's interest in cryptocurrency. Recently I also read a fake that in Italy one grandfather lived until 104 years and drank wine every day. Alcohol corporations will do everything to increase interest in their companies o_O:D
 
It is immediately clear from the text that this news was invented in order to increase people's interest in cryptocurrency. Recently I also read a fake that in Italy one grandfather lived until 104 years and drank wine every day. Alcohol corporations will do everything to increase interest in their companies o_O:D

Maybe not as they have a cryptocurrency option on their site - https://www.sothebys.com/en/buy-sell/cryptocurrency-faq
 
The anonymity and the ease of access that Crypto offers are hands down the best compared to any other assets.
Secondly, it's decentralized which again ensures that no bank/financial institution can block you from getting your money and run away with it.

You might have heard this before but I will repeat again - In the long run, crypto will change the way people deal with money.
 
Yes, they may have such an option, but that does not mean that someone has used it. Foe example it can be cabbage in a store, but for example, no one will buy it for the whole year.

Are you familiar with Sotheby's?

They are a pretty buttoned up organization.
 
Are you familiar with Sotheby's?

They are a pretty buttoned up organization.
This does not mean at all that this company cannot come up with fake news that is very similar to the truth, in order to again arouse interest in itself and trading at Sotheby's. :)
 
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