Minnesota diamond store becomes first in the state to accept Bitcoin for jewelry purchases

Continental Diamond in St. Louis Park, Minnesota, has become the first jewelry shop in the state to accept Bitcoin as payment.

The use of Bitcoin, which is gaining popularity, adds to the lengthy and increasing list of innovations and honors received by the family-owned diamond store.

The 12-time winner of Minnesota Bride’s “Best Jeweler” award innovates with cryptocurrency and expands customer experience and will be utilizing Bitpay to handle all of its merchant services, according to a report by PRNewswire on May 11.

Continental Diamond has blazed a trail in the Minnesota jewelry industry since its founding in 1981, providing an array of diamonds, engagement rings, fashion-forward jewelry, timepieces, and gifts to customers across the state.

“We’ve always been more than a jewelry store,” said Jimmy Pesis, Continental Diamond co-owner, and president.

Pesis added:  

“We are constantly innovating and creating an oasis you can’t wait to come back to! Accepting cryptocurrency seemed like a natural next step to adapt to the changing behaviors and preferences of our customers.”

Crypto payments on the rise

The news follows a slew of cryptocurrency payment announcements in recent months, with more property purchasers acquiring residences with Bitcoin from Portugal to Kentucky, United States in transactions that do not need the conversion of the cryptocurrency.

Elsewhere it was recently announced that the U.S.-based Bentley University had greenlit tuition payments in Bitcoin and other cryptocurrencies.

At the same time, AMC Theatres CEO claimed that the firm is seeing an increase in the use of Bitcoin and other crypto payment options, which represented about 35% of their total online payments.