Precious Investments, Inc. (OTC: PNIK) has started selling its PinkCoin, which is its own asset-backed cryptocurrency. This is a world-first, as PinkCoin is the first cryptocurrency to be backed by diamonds. The opportunity is interesting, as the currency is currently backed by $5MM of colored, fancy diamonds. This is an asset that has seen on average, 10-15% appreciation annually. They have not decreased in value since 1959! With this in mind, PinkCoin can be considered by investors as more than simply being a currency, but being a long-term potential investment.
As per the company's website, colored diamonds are very rare, and are only becoming rarer. Only 0.001% of diamonds mined each year are considered top-quality, vivid, colored diamonds. The mine that produces 90-95% of the world's fancy pink diamonds is expected to close for good in 2020, which will cut supply even more.
It doesn't take a rocket scientist to figure out how a decrease in supply can affect price:
PinkCoins are currently for sale at https://coinsquare.io/. They have appreciated from 2579 microBTC on January 17th, 2016 to 2618 microBTC at the time of this writing. Demand for the currency itself has been rising since the currency initially opened for trading. The company will be selling its currently from its website directly starting on January 22nd, 2016 at the following link: http://pinkcoin.bitgems.io/
To learn more about PNIK, read their most recent press release at this website: http://www.thestreet.com/story/13427489/1/5-million-of-coloured-diamonds-launched-under-pinkcoin-worlds-first-diamond-backed-crypto-currency.html
