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Bloomberg Expands

Bloomberg Expands its Crypto Coverage to the Top 50 Largest Assets

The world’s leading provider of news, broadcasts, and videos – Bloomberg Media Distribution – expanded its coverage of cryptocurrency data on the Bloomberg Terminal. The company will track the performance and latest updates of the top 50 digital assets, including Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and more.

From 10 to 50

The company began providing news about cryptocurrencies on its Bloomberg Terminal in 2013. The growing interest in the asset class and the investments poured into the sector prompted the firm to start reporting news surrounding 10 of the largest tokens by market capitalization. Now, the media giant expanded its scope to the top 50.

Bloomberg assured that its approach towards covering the industry’s developments “evolves along with the crypto markets.” It has also established a “rigorous vetting model, available to view on the Bloomberg Terminal, that takes into account our institutional client base.”

Alex Wenham – Product Manager for cryptocurrencies at Bloomberg – outlined the organization’s main goal:

“Our mission is to help the global institutional investor community seamlessly incorporate digital assets into their workflows in a trusted and familiar way on the Bloomberg Terminal. As this market develops, we will continue to evolve our data-driven offerings to help our clients define and develop their strategies in this space.”

Additionally, the company offers management services for customers with exposure to traditional and crypto assets via its integration of Elwood Technologies with Bloomberg AIM. Last year, the media partnered with the digital asset data provider – Kaiko – to release the first series of Financial Instrument Global Identifiers (FIGIs) covering cryptocurrencies.

Bloomberg’s Analysts Bullish on Bitcoin

In the past several months, some of the leading strategists at the company have predicted a quite prosperous future for the primary cryptocurrency. In November 2021, the company described bitcoin as “the best inflation hedge around,” while John Authers – Senior Editor for Markets – claimed it had achieved 99.996% deflation over the last decade.

A month later, Mike McGlone – Senior Commodity Strategist at Bloomberg – opined that 2022 will be a successful year for the asset. In his view, “deflationary forces” will push its price towards the milestone of $100,000.

Despite its relatively slow start of the year, company analysts reiterated that forecast in February. According to them, BTC is “poised to come out ahead” later in 2022.

It is worth noting, though, that they have envisioned this price level before. Nonetheless, the cryptocurrency is yet to reach that far.

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