Bloomberg is planning to incorporate bitcoin prices into its suite of financial data terminals, according to a blog post written by the company on its corporate website. Some experts say that this measure is another step toward complete legitimacy and perhaps even a supposed stamp of respectability by Wall Street and other United States-based trading venues.
The financial publication noted that virtual currencies are being frequently talked about by a wide range of individuals from Warren Buffett to the Winklevoss twins. Bloomberg notes that whether you believe bitcoin is a bubble and will eventually burst or if it is the greatest technological innovation, the digital currency remains to be an important headline in the business community on a regular basis.
This is why Bloomberg will be adding bitcoin pricing to its more than 320,000 global subscribers. Industry professionals and investors can monitor chart data (information courtesy of bitcoin exchanges Coinbase and Kraken). Readers can also check up on the latest digital currency news and social media posts from roughly 100,000 sources.
Image courtsy of RudeTurnip on Reddit.
“It’s worth noting that we are not endorsing or guaranteeing bitcoin, and investors cannot trade bitcoin or other digital currencies on Bloomberg. Global interest in digital currencies has undoubtedly increased, but these instruments still represent a fraction of fiat currency usage,” wrote Tod Van Name, Global Head of Fixed Income, Currencies and Commodities at Bloomberg, in the blog post.
“Reaction from governments around the world to digital currencies has been mixed and the regulatory environment remains very unclear. And while bitcoin has thus far survived intense media scrutiny, scandal and wild price swings, there certainly is no guarantee that bitcoin will persevere.”
There are three primary reasons for this latest move: client demand, innovation and transparency.
More and more websites are including bitcoin pricing into their models. For instance, we reported that search engines Bing and DuckDuckGo are providing users buy and sell price listings – DuckDuckGo utilizes the Markets page of Blockchain.info, while Bing uses Coinbase.