According to data, diamond prices have reached their lowest level in this century. The CEO of Metaplanet, Simon Gerovich, believes that Bitcoin's scarcity can fix this issue. Declining demand in China and the production of cheaper synthetic alternatives are contributing to the drop in diamond prices. The rise of lab-grown diamonds and consumer concerns about the environmental impact of diamond mining are also impacting the industry. The mining industry is said to be at an inflection point, and diamonds are not traded on exchanges due to lack of standardization and few companies controlling the global supply.



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