The dollar, the yen, the peso, the ruble and … Bitcoin.
The Bloomberg terminal, the financial services computer system that dominates Wall Street, is now providing Bitcoin pricing to its subscribers. By typing VCCY, users will be able to chart the virtual currency with data from the Coinbase and Kraken exchanges.
— Ezra Rapoport (@HFBondsTrader) April 30, 2014
Investors will not be able to trade in bitcoins from the terminal, and the company noted it was not endorsing or guaranteeing the currency.
“Regardless of your position, virtual currencies have become increasingly interesting to investors and financial market participants around the world,” Tod Van Name, global head of fixed income, currencies and commodities at Bloomberg wrote in a statement.
In addition to pricing, users will also be able to access news and social media posts on virtual currency from more than 100,000 outlets.
Bloomberg said client demand, a desire to provide transparency to the market and the company’s efforts to stay up to date on modern financial innovations spurred the move.
“While Bitcoin and other virtual currency markets are still nascent, they represent an interesting intersection of finance and technology. Given that Bloomberg sits squarely at that intersection, providing pricing for this underdeveloped market is a natural fit for us,” Van Name added.
BONUS: What Is Bitcoin and How Does It Work?
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