Bloomberg has made a major cryptocurrency change to its Terminal service to provide more accurate market data to its institutional investor client.
Bloomberg, a leading financial and technical information platform, has significantly expanded its scope by including data on the top 50 crypto assets in its Terminal service.
Alex Wenham, product manager for cryptocurrencies at Bloomberg, stated that as the interest of the “global institutional investor” community in digital assets grows, they will need a solution to “seamlessly integrate digital assets into their workflows.”
Bloomberg Terminal first started providing data on Bitcoin prices in 2013. At that time, BTC was trading around $100 before a big spike. As of 2018, Bloomberg Terminal had ten cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Ripple (XRP).
With the development in question, Bloomberg provides more crypto financial professionals and institutions with the opportunity to access and trade real-time financial market data.
Among professional and institutional investors, Bloomberg Terminal is seen as a groundbreaking tool for providing analytics, insight into compliance issues, and real-time trading practice.
Bloomberg states that it has validated assets in the terminal service using a data-driven strategy and “enables this approach to evolve with crypto markets.”
Bloomberg is known as the most preferred application especially by US stock brokers. The addition of so many new crypto assets to the Bloomberg Terminal shows that the crypto markets are evolving. Institutions closely follow the potential of the industry to both develop platforms and generate profits.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.