Business, Technology

December 04, 2020

S&P Dow Jones will launch cryptocurrency indexes

Source: Pexels (Pixabay) 
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The Gist

Around 550 of the largest cryptocurrencies will have their price data shown on the S&P Dow Jones in 2021. 

The List

  • S&P hopes that clients will be able to create customized indices that will help them navigate the volatile cryptocurrency market. 
  • Proponents of cryptocurrency believe the announcement to be a watershed moment for adoption. 
  • Large companies such as PayPal have began dabbling in cryptocurrency over the past few months.
  • Many believe that the value in cryptocurrency comes from it being outside of the current financial system. 
  • Governments around the world have been printing record amounts of fiat currency, leading many to protect their wealth using gold and cryptocurrency.
  • Bitcoin's volatility has been decreasing in recent years, and it recently surpassed its previous all time high with a price of over 19 800$USD. 

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