In Sotheby's Auction, A Rare Diamond Sold For $12.3 Million With Cryptocurrency

A mystery buyer has purchased a massive, exceedingly rare 101.38-carat diamond in a Sotheby's auction for $12.3 million by paying through cryptocurrency. 

Cryptocurrency was not revealed by auction house with which it was purchased, but previously Sotheby's said it would accept bitcoin and ether for what it had estimated would be a sale of $15 million.

"This is a truly symbolic moment. The most ancient and emblematic denominator of value can now, for the first time, be purchased using humanity's newest universal currency," Wenhao Yu, Sotheby's deputy chairman for jewelry in Asia, said in a statement. "Never was there a better moment to bring a world-class diamond such as this to the market.

In May 2021, Sotheby's collaborated with Coinbase to accept cryptocurrency as payment for a physical piece of art for the first time, selling a work by Banksy for $12.9 million. 


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