What does it mean if my boyfriend gives me a diamond ring for my birthday?

My boyfriend gave me my birthday present early and it was a diamond ring. I love it but what does it mean? Seriously? Like that's what you give when you propose to someone. Why did he give it to me? And we haven't been dating that long either. I tried looking it up and it costs like 300 bucks. Like isn't that too much for a b day present?
What does it mean if my boyfriend gives me a diamond ring for my birthday?
I do look cute wearing it tho.
Updates
+1 y
Wait is that the finger that wedding rings are supposed to be worn on? If it is then wtf that's where he told me it's traditional to wear it.
What does it mean if my boyfriend gives me a diamond ring for my birthday?
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