Former New York City Mayor Michael Bloomberg could soon be joining the presidential race.

The billionaire confirmed to the Financial Times that he is "looking at all the options" for a potential run.

In an interview with the newspaper, Bloomberg said, "I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters."

The New York Times first reported last month that Bloomberg had taken concrete steps toward a White House campaign, and instructed advisors to draw up plans for an independent run. 

Bloomberg has reportedly set a deadline of March to make a decision.