Internet financial news giant, Yahoo Finance, has turned their attention to cryptocurrency recently. In a November 30th announcement on their site, Yahoo Finance stated they will be adding more than 100 pages of price quotes relating to various cryptocurrencies including many of the most popular coins and some obscure coins.
Some of the altcoins coins mentioned in the release they will feature include DigiByte, IOTA, and Cardano.
LIVE: #Bitcoin this morning – https://t.co/MHhAvG7N6Q pic.twitter.com/4R9nGaDZLJ
— Yahoo Finance (@YahooFinance) December 4, 2017
What does this mean for the crypto space? This is a huge attempt at merging the gap between those who are Wall Street-minded investors versus those who invest in the cryptocurrency space.
Other news networks, like CNBC, have already shifted some of their focus to crypto.
The addition of such high profile financial news sites provides the cryptocurrency space with better, reliable coverage. It shifts crypto from the “blogosphere” to the mainstream media. It takes some of the speculation out of cryptocurrency and removes the “pumping” aspect out of ICO’s and alt-coins. Yahoo Finance and others hopefully will provide legitimate coverage of upcoming ICO’s and the current status of many altcoins. This should make it easier for people to filter through the “noise” and invest in truly legitimate coins.
Yahoo Finance and others also provide a new outlet for cryptocurrency exposure. Yahoo Finance is the largest business news website in the US by monthly traffic, with over 75 million active monthly users. In October 2017, Yahoo Finance had over 156 million visits compared to Google Finance’s 79 million visits. The site is owned by Oath! which is the media division of Verizon. The site was named by Newsmax in 2014 as the top site for Republicans 18 or older with annual incomes of $100,000 or more which is a key demographic for cryptocurrency exposure.
With Bitcoin continually reaching new all-time highs and now in the mainstream news more than ever, better, reliable coverage on this and other coins is a must!
Bitcoin and cryptocurrency is no longer just “hobby” for those who invest, it’s becoming an important part of the global economy. Based on the talk of industry experts, the value of Bitcoin and cryptocurrency, in general, are only going to continue to increase over time.
