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Someone Just Paid $12 Million Worth of Crypto for 101-Carat Diamond

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Fri, 07/09/2021 - 16:54
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Alex Dovbnya
A 101.38-carat diamond was sold during a single-lot auction this Friday
Someone Just Paid $12 Million Worth of Crypto for 101-Carat Diamond
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A rare 101.38-carat pear-shaped D-Flawless diamond named “The Key 101.38” was sold by British-founded auction house Sotheby's this Friday.

An anonymous buyer from Hong Kong forked out a staggering $12 million worth of crypto for the gemstone.   

It’s not clear what cryptocurrency was used for the record-breaking purchase, but Sotheby's only accepts Bitcoin and Ethereum.

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The popular auction house still sees great demand for white diamonds, with 80 percent of its offers finding buyers in 2021.  

“The Key 101.38” is a type IIa diamond, which means that it doesn’t contain any nitrogen impurities. 

A diamond
Image by sothebys.com

Since gems with such a high level of optical transparency are incredibly rare, they are usually reserved for billionaires, royalty, and celebrities. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.