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Gem show wholesaler first to accept cryptocurrency

Posted at 6:02 AM, Feb 02, 2018
and last updated 2018-02-02 08:05:35-05

One wholesaler at the Gem Show is now accepting bitcoin and cryptocurrency.

HiLineTrading is the first company at the Tucson Gem Show to do this. The wholesale company is based out of Sri Lanka and specializes in sapphires. Hi Line Trading says the hype surrounding Bitcoin and other cryptocurrency was one reason they started excepting it as payment for their stones.

They say another reason they now accept bitcoin: they've had customers use fake checks in the past and feel bitcoin is faster and safer. The company says it believes bitcoin is here to stay.

Hi Line Trading says the company has studied the market very closely for years, and despite market crashes, believe bitcoin will continue  to grow. The company says it is planning to close its first large sale using bitcoin.

And next year, Hi Line Trading says it wants to introduce its own cryptocurrency.