Yahoo launches cryptocurrency vertical as popularity rises
Yahoo Finance will give its users the ability to track cryptocurrencies on its platform beginning today, shining light on how mainstream the topic of digital currency has become.
Why it matters: The move comes as more people are beginning to take notice of digital currency as the next big movement in financial transactions. Bitcoin price hit $10,000 — a record high — for the firs time just days ago and the price of Bitcoin is up more than 800% this year. Still, some in the financial community, like JPMC CEO Jamie Dimon are naysayers, calling the crypto-currency a "fraud."
- It will launch over 100 cryptocurrency quote pages to Yahoo Finance across all platforms globally.
- The pages will include profile information, historical data, coins outstanding, market cap, and data on which currency pairs
- The data will be provided by Yahoo Finance partners at CryptoCompare as well as Yahoo Finance's own original editorial team. (Yahoo Finance has partnered with Coindesk for a curated content stream and to allow users to track their coins on its site.)
Yahoo Finance's Director of Product Management Charlie Hartel says the ad-driven product will target the entire spectrum of cryptocurrency investors, "from beginners that are now just discovering cryptocurrencies to serious investors who want to track their cryptocurrency holdings."
Yahoo Finance Editor-in-Chief Andy Serwer: "We pride ourselves on being pioneers in covering Bitcoin and Blockchain... We were the first business news platform to give live quotes of Bitcoin on our live shows." Yahoo is hosting the first mass, consumer-oriented Crypto event in February called "All Markets Summit: Crypto."