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

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Fri, 9/07/2021 - 16:54
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. 

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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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