DIAMONDS + CRYPTO ARE FOREVER: Most expensive product bought with crypto

Photo by Edgar Soto

According to Bloomberg, a 101.38-carat diamond acquired at auction in Hong Kong has become the largest tangible thing ever purchased using bitcoin.

• The HK$95.1 million (US$12.3 million) sale price fell short of the projected US$15 million price, according to auctioneer Sotheby’s.
• Sotheby’s was unable to confirm the cryptocurrency used by the unidentified bidder, although previous reports stated that payment in cash, bitcoin, and ether was acceptable.
• The pear shaped diamond, known as the 10138 Key, was the second biggest diamond ever publicly auctioned.
• A carat is 200 mg weight unit used to measure diamonds and other jewels. The 10138 Key weighed 20,276 g or 0,715 oz on this scale. Carat refers to the purity of the metal in gold.