Next Friday, Sotheby's international auction house is expected to accept Bitcoin or Ethereum when selling a 101.38-carat diamond, another milestone in coin adoption. encrypted.
According to Arabia Net, a single flawless pear-shaped diamond could fetch up to $15 million at auction at Sotheby's in Hong Kong. Kong, what would be the most expensive physical thing ever offered to buy in cryptocurrency.
For his part, Sotheby's Managing Director of Global Luxury, Josh Pollan, said there is a growing demand for gemstones, increasingly from the digital generations, many of whom are in Asia.
Fewer than 10 diamonds weighing more than 100 carats will be auctioned, only two of which are pear-shaped, according to Bloomberg and seen by Al Arabiya.net.< /p>
Auction houses are increasingly accepting cryptocurrencies for payment, with Phillips Auctions offering a piece from street artist Banksy last month for payment via Ethereum or Bitcoin. Christie's also allowed Ethereum to be paid for a set of digital artwork in February.
George Buck, art consultant and curator of the Swiss-based Museum of Contemporary Digital Art, who specializes in blockchain technologies, said several auction house executives were surprised by the interest. Extreme cryptocurrency enthusiast.
He added, "Many people have gotten rich quickly from the volatility of the cryptocurrency market in the past year, so they are in a spending mood." He said if you want to be competitive in the art world as an art dealer or auction house, allowing crypto enthusiasts to pay with cryptocurrency will make you more attractive and innovative.
Although cryptocurrency prices have risen and fallen frequently, auction houses rarely bear the brunt of any volatility, according to Buck, who said the seller bears most of the risk. . Despite the growing interest, cryptocurrencies are not expected to replace traditional currencies anytime soon.
