Bitcoin vs Banking [infographic]
Bloomberg LP has announced it will include Bitcoin prices on its financial data terminals. The decision is big news for the world’s most famous cryptocurrency and it has already sparked the interest of several American trading platforms, according to The Wall Street Journal.
“Bitcoin may be the biggest technology innovation since the Internet or a fad whose crash will be as precipitous as its meteoric rise. Regardless of your position, virtual currencies have become increasingly interesting to investors and financial market participants around the world. That’s why we are pleased to announce today that Bloomberg is providing Bitcoin pricing to our 320,000+ global subscribers”, the company said in a statement released this Wednesday (30th).
The business and financial professionals using the Bloomberg Professional service only need to type ‘VCCY<GO>’ on the system and they will be able to monitor and chart data from Bitcoin exchanges Coinbase and Kraken. Bloomberg’s service will also provide access to cryptocurrency-related news and social media posts ”from more than 100,000 sources”.
Although Bloomberg recognizes digital money is still the core of a “controversial market”, it also points out three reasons that explain the decision: transparency, client demand and innovation.
According to the company, the “clients are increasingly interested in Bitcoin and other digital currencies and are looking for tools to better monitor developments in these markets”.
Image from Wikimedia
