"Diamonds Will Become The World's Leading Asset in 2023 "...Cormac Kinney

Adolf Goebbels
Published on May 17, 2023
According to Cormac Kinney, founder and CEO of Diamond Standard, the demand for jewelry is the primary driver of diamond pricing. He tells Daniela Cambone at the 2022 Stansberry Conference and Alliance Meeting that "Diamonds are not correlated to anything else," which makes them a powerful diversifier and has sparked a lot of institutional interest. Kinney emphasizes the breakthrough product's timing, saying that "it's a tremendous opportunity."

For a very long time, the diamond market has been difficult for investors. Price estimation is challenging, sourcing can be challenging, and it's frequently challenging for buyers to resell the gems on the market.

Diamond Standard's founder and CEO, Cormac Kinney, thinks his business has discovered a way to address these issues and make the diamond market accessible to both big and small investors.

He told the Investing News Network in an interview: "I became fascinated by the fact that the diamond industry is worth US$1.5 trillion, which is more than silver, platinum, palladium, and rhodium put together, but an investor could never invest in diamonds because there was no price discovery. Every diamond is slightly different, and there was no liquidity. I reasoned that I could use computer science to solve those problems, and I did just that.

Diamond Standard has created actual coins and bars that have been certified by regulators, each of which is backed by a blockchain token and contains equivalent sets of diamonds. The startup wants to make the diamond market less opaque and give investors a foothold in a sector where success has historically been difficult to come by.

The innovation, according to Kinney, is that by utilizing optimization, automated market making, and extreme transparency, it is possible to demonstrate the equality of any two physical coins.

Diamond Standard has other products in the pipeline, including a fund, an exchange-traded fund, futures, and options, and Kinney anticipates substantial demand from both individual and institutional investors.

Only 1% of the world's diamonds are held by investors, and any significant investor you can think of doesn't possess a single diamond, according to Kinney. "Since our commodity has made it available to investors for the first time, we anticipate that they will purchase 15% of the available supply, or roughly US$250 billion, or eight years' worth of output. If that demand materializes, prices will rise significantly."

? Share this video with a friend if you find it useful! Consider subscribing to the channel for videos about investing, business, stock market, managing money, building wealth, passive income, and other finance-related content!
? Click here to subscribe to the channel: https://bit.ly/3Drb5UX
► Special thanks to:Stansberry Research: https://www.youtube.com/user/StansberryMedia

? We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel.

Share Video

  • 560 x 315
  • 640 x 360
  • 853 x 480
  • 1280 x 720

Add to

Flag Video

Rate video

Rate video

Up next