Bitcoin won another victory in its battle for legitimacy on Wednesday, as financial information giant Bloomberg announced that it would include news and pricing about the currency on its terminals.
In a blog post, Bloomberg said its subscribers will be able to track chart data from two exchanges, Coinbase and Kraken, and get virtual currency updates from thousands of news and social media outlets.
The company explained that it decided to add the bitcoin information in response to growing interest among its 320,000 clients, and because Bloomberg sees virtual currencies as an innovation and an underdeveloped market.
Bloomberg also acknowledged that the verdict is still out as to whether bitcoin will have a permanent place as a fixture of finance, writing: “Bitcoin may be the biggest technology innovation since the internet or a fad whose crash will be as precipitous as its meteoric rise.”
The move was hailed on social media by bitcoin investors, including Barry Silbert, who is in the process of launching a Bitcoin investment trust:
— Barry Silbert (@barrysilbert) April 30, 2014
For Bloomberg, the addition of the bitcoin data comes not long after the company plugged in Twitter tools to track positive and negative sentiment on different companies and market sectors.
(For those of you looking for another quick way to keep up with bitcoin news, be sure to check out my colleague Biz Carson’s “This week in Bitcoin,” which offers a Friday round-up of the biggest stories and pricing moves.)