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Sotheby's open to crypto payment for 100 carat diamond to be auctioned off

Next month the pear shaped diamond will go up for auction and for the first time Sotheby's will accept crypto payment for a physical asset, according to the New York Post.

The pear shaped diamond is 101.38 carats and is in flawless condition. It is estimated to bring in $10M - $15M dollars.

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“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,” Patti Wong, chairman of Sotheby’s Asia, said in a statement."

As far as what type of cryptocurrency Sotheby's will accept we do not yet know. Companies typically outsource cryptocurrency payments to large players such as Bitpay who often relegate crypto payments to Bitcoin, Ethereum, and Bitcoin Cash.

You can read the full article here

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