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Tick-Tock, Bloomberg to Add a Bitcoin Ticker

Chris in Uncategorized published on 14, August 2013

Sooner, it will be more than possible to see U.S. Dollar and Bitcoin to be on the same screen. This has been strongly affirmed with the news that the economic giant Bloomberg is testing a bitcoin ticker to its employees, as revealed by BTC Geek.

Bloomberg LogoDue to unintentional eavesdropping, this has been exposed as someone claimed to overhear a Bloomberg’s employee at a Satoshi Square meeting confirming that Bitcoin is now available on their terminal. Based on BTC Geek, “only Bloomberg’s internal staffs can view the Bitcoin ticker which is under {XBT Crncy <GO>}”. Moreover, it is currently not available for the company’s clients. The reason behind this is still a huge question mark; however, most believe that it is due to the testing purposes.

Furthermore, it is said that Bloomberg is using Mt. Gox and TradeHill as its main source of data. Despite the fact that the former had performance concerns, it is still known to be the ‘largest bitcoin exchange in the world’. On the other hand, the latter is known to be the first US Bitcoin exchange platform; hence, it is mainly involved in negotiating with the US authorities.

It is known that Bloomberg is not the first terminal to have this highlight as there are already several bitcoin tickers in the online world such as Bitcointicker, Bitcoinity, Bitcoincharts, as well as Clarkmoody. However, with Bitcoin ticker on Bloomberg’s screen, this will definitely be the de facto paradigm for bitcoin traders. This only proves that Bitcoin has captured the interests of the financial world including investment banks.

Recently, a Texas judge has ruled that Bitcoin is a real currency after a man named Trendon Shavers made a Ponzi scheme using Bitcoin. In his defense, he stated that ‘Bitcoin is not an actual currency’; but obviously, the lawsuit succeeded when the judge contrasted his claim. With the addition of bitcoins to Bloomberg, the situation above will strongly be attested as the future inclusion of Bitcoin ticker to this financial giant’s chart will certainly lead to Bitcoin’s legitimacy.

With Bitcoin on Bloomberg’s terminal, traders will gain advantages. One of these is the fact that it will be easier to them to compare these digital coins to other fiat currencies. More than that, according to Roman Dillet, writer at Techcrunch,

“(The) traders still have to use Bitcoin exchange services like Mt. Gox or Tradehill for transactions. They won’t be able to execute buy or sell orders from their Bloomberg terminals. It could be the last technical difficulty before investing some time and money in Bitcoins.”

Lately, this bang from BTC Geek has been officially confirmed by Vera Newhouse, the spokesperson to Bloomberg. Newhouse stated that, “Bloomberg is testing Bitcoin data, but this is only accessible to internal users and not Bloomberg Professional service subscribers.”

Moreover, she clarifies that, “We often prototype new functions and dashboards; some that are eventually rolled out, and some those aren’t.” Hence, it is still too early for them to give any information about the plans of Bloomberg for this sample which is still in the initial stage.

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