MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Just In: Bloomberg introduces its own Cryptocurrency

Just In: Bloomberg introduces its own Cryptocurrency

As the demand for Cryptocurrency is expanding, the American data provider and index Services Company, Bloomberg has launched its own Cryptocurrency Index called Bloomberg Galaxy Crypto Index (BGCI) earlier this week. In order to keep an eye on the performance of the most valuable part of the Cryptocurrency, the company has decided to launch the Index.

Alan Campbell, global product manager for Bloomberg Indices stated that, “The index brings our rigorous approach to index construction to cryptos and will provide investors with a transparent benchmark to gauge the performance of the broader market.”

The Bloomberg Crypto Index will carry out offerings based on the prices of the finest virtual currencies in the world. And this index will be connected with other indexes controlled by Bloomberg Index Services Limited. Furthermore, the branding will be carried out by Galaxy Digital Capital Management. With some of the existing Cryptocurrency market indexes, the new launch by Bloomberg has outshined the market by becoming the first institutional standard for the Cryptocurrency market.

Know about Market-Cap Weighted

The American data provider’s Crypto wing – BGCI – suggests that Cryptocurrencies with high value market cap will carry a strong weight in the index. During the launch, it added other Cryptocurrencies such as Bitcoin, Ethereum, Monero, Ripple and ZCash while currently it trades 12 cryptocurrecies in U.S. dollars.

The Bloomberg Galaxy Crypto Index brings unprecedented transparency to the crypto markets. We are excited to help drive the decentralized revolution forward through the creation of BGCI”, said Michael Novogratz, CEO and founder of Galaxy Digital Capital Management.


YOU MAY ALSO LIKE

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

RECOMMENDED