The closely held company doesn’t publicize its prices, which are the most expensive among financial data providers.
The “seal of approval” provided by the addition of these cryptocurrencies to Bloomberg’s terminal could open up new possibilities for cryptocurrencies as a whole. Bloomberg is now charging 24,000 a year for a single terminal subscription. And even now, many consider the success of crypto-giants like Bitcoin to be a growing bubble, bound to burst at some point in time. Initially, crypto garnered suspicion and dismissal from many who saw it as a passing phase. Its acceptance of four total cryptocurrencies says a lot about their legitimacy. Litecoin is meant to work as an improved clone of bitcoin, while ripple provides blockchain technology to banks, also allowing its currency to circulate on the market.īloomberg’s terminal service is used by major banks and investment houses worldwide. The platform on which it runs is not created as a payment alternative, but aims to facilitate and monetize the circulation of tokens to enable developers to build and manage distributed applications. The largest banks on Wall Street are teaming up to join a network that could challenge an important part of Bloomberg’s terminal business. When people try to understand the Bloomberg Terminal as a product, what they often miss is that Bloomberg is a great business because it has low churn, and it has low churn because its IM function is basically an exclusive club of approximately 325,000 people whose employers think they are worth at least 25,000 per year above their base salary. Compared to bitcoin, ethereum has a different primary purpose.