The Future Is Here: Buy Luxury Diamonds With Bitcoin

The Future Is Here: Buy Luxury Diamonds With Bitcoin

The future is here, and we are truly living in some exciting times. 

Cryptocurrency is becoming ever more popular. As more retailers start to accept our hard-earned funds, the possibilities for dealers are being flung wide open. 

These developments made us wonder, can you use cryptocurrency to pay for jewelry? If you could, why would you want to? Is it a good investment or just a fad?

Let’s delve into this topic and find out what sparkling nuggets of wisdom we can unearth. 

It is a sound investment

Famous statistician software, Statistica, reports that the luxury diamond market saw an overwhelming growth of 1 billion US dollars between 2019 and 2020. Few other investment opportunities can boast such astronomical growth.

This growth is predicted to continue to rise until at least 2026. The luxury diamond market has weathered everything that the global economic climate could throw at it. 

This market has seen it all, from the COVID-19 pandemic to retail crashes and economic sanctions. Today, savvy investors are scrambling to secure their piece of this perfect investment opportunity.

With the luxury diamond market seeing a constant, albeit slow, growth, investing in it is a sure deal for countless market players. 

The problem is that investing in diamonds can be quite expensive. This high entry-level pricing makes it quite prohibitive for the average investor on a limited budget. 

You’ll only see sure gains by investing a considerable portion. Anything less may not be worth your time and effort. 

It’s here where the wonders of cryptocurrency come into play. How can I buy jewelry with Bitcoin? The answer is pretty simple. 

You find a forward-thinking, innovative luxury diamond dealer that is open to the idea of trading cryptocurrency for diamonds. 

Sotheby’s broke new ground by accepting Bitcoin and Ether

Sotheby’s, the internationally renowned diamond dealer, paved the way for other more conservative sellers when they accepted Bitcoin and Ether in one of the biggest diamond auctions in July this year. 

Auction houses have long been open to the idea of accepting payment in cryptocurrency. The crypto market has been quite volatile over the last couple of months. 

This volatility has seen several players become millionaires overnight, and auction houses intend to cash in on this new market.

Those with extra money on hand are now looking at ways to spend or invest their crypto cash. So, it didn’t come as a surprise that the Sotheby’s auction attracted a vast crowd of cryptocurrency investors. 

Despite the volatility of cryptocurrency, it is the end seller that accepts the risk and not the auction house. This thought begs the question, is it only the auction houses or the middlemen that benefit from this trade?

Some sparkling benefits to all

We’ve already seen how the value of the luxury diamond market is on a permanent rise. This constant growth is slow and steady but predictable and reliable. The diamond market offers investors:

  • Slow gains
  • Secure investments
  • Predictable growth

On the other hand, we have a volatile crypto market with booms and crashes that often occur within a couple of weeks of each other. Experts in the crypto world will know that their favorite investment field offers them:

  • Tremendous growth and huge losses
  • Unpredictable future
  • Short term gains and losses

A clever investor will make use of both markets to gain maximum benefit. Converting your fluid cryptocurrency into solid luxury diamonds and later on trading the diamonds will provide you with great satisfaction and rewards. 

Jewelry and blockchain investments go hand-in-hand like cheese on pizza. 

The best of both worlds

Trading cryptocurrency for luxury diamonds seems to offer investors the best of both worlds. There will be the fast-paced, exciting ups and downs associated with Bitcoin. On the other hand, you will find the slow, steady growth offered by the diamond market.

Yet, what is the future of this relationship between the fast and the slow? The traditional and the modern? Is this a limited-time investment opportunity that might soon change due to restrictive trade laws and economic tyrants?

A bright but uncertain future

There is no doubt that Sotheby’s Hong Kong changed the world when they sold their first-class 101.38-carat diamond for a staggering 12.3 million dollars.

However, this is no indication that other auction houses and diamond dealers will jump onto the same bandwagon. Several of the more reputable auction houses and dealers are willing to accept Bitcoin payments. 

Unfortunately, it seems like the smaller merchants are still unsure of what to do with this new, modern trend. Perhaps it is the lack of knowledge about cryptocurrency that slows down their adoption of this trend.

There is no doubt that the market is there. Young, tech-savvy digital natives are always looking for new opportunities and places to spend their hard-won cryptocurrency. Plenty of investors are willing to part with their crypto funds for real, solid gains. 

While the benefits are crystal clear, for buyers and sellers, even the middlemen, only time will tell whether more companies and sellers will adopt this innovative trade approach. 

Our final thoughts

We started this article by asking how to buy diamonds with crypto funds and whether it is worth our time and effort. It seems now that the future is truly here. It is easier to buy luxury diamonds than we ever thought it could be.

The proverbial bar has been lowered, and now the savvy crypto investor on a tight budget will easily be able to invest in the traditional luxury diamond market.

Investors of both markets will gain all the benefits, excitement, and adventure associated with their respective markets. This blend is, in our opinion, the best fusion of old thinking and new technology.