Diamond prices have fallen through the floor this century—De Beers would have to go silent. Natural diamonds are being rubbed against laboratory-grown diamonds; at their core, the “narrative of consensus scarcity” has collapsed—just like some old coins: once supply and demand loosen, you can’t tell the story anymore. Don’t rush to bottom-fish—this thing has neither an ETF to back it up nor the Fed to bail it out.

$BTC