Weiss Crypto Ratings, a digital asset review agency, has recently updated its rating for Bitcoin. Bitcoin has now been given the “Excellent” rating or A-rating. This is because the crypto is improving its fundamentals, and it broke through the $10,000 mark before the BTC Halving event. Bitcoin’s halving will happen in about three months from now, heralding a massive bull run in and of itself.
Veteran New To The Industry
In the past, Weiss had downgraded the world’s first cryptocurrency, but it seems that the agency has changed its mind in the meantime. As it stands now, Bitcoin has recorded some of the best performances in January, in the past seven years.
The Weiss company itself isn’t an old figure in the crypto industry, having only popped up quite recently. However, the firm is well known across conventional financial industries for five decades now. The company offers several tools to help in the investment of various digital assets.
Seeing Need For Independent Rating Systems
The firm is based within the US, providing an array of index ratings for cryptocurrencies. Ratings like its returns technology innovation, adoption levels, and assess risks. Wiss Crypto even includes research reports on crypto, covering things like potential investment opportunities, price alerts, and market sentiments.
Dr. Martin Weiss, the CEO of Weiss Group, gave a public statement in the previous year. This statement made it clear that he thought the crypto industry was in dire need of a rating system that is independent and objective. His argument for this is that it’ll empower both the institutional and individual investors by cutting through the layers of hype and fear crypto can so quickly have. With it, Weiss stated that the rating system could help identify cryptocurrencies that hold great promise.
Stepping On Many Toes
Luckily, Weiss has some room for the altcoins as well, giving the other significant cryptocurrencies ratings alongside Bitcoin. Back in November 2019, Weiss sparked quite the reaction after its agency claimed that the Cardano network and its ADA coins are “clearly” better than EOS.
Weiss Crypto also got its fair share of criticism when it took on the very tribalistic XRP community, suggesting that they should all transfer over to XLM. Weiss, in no flowery words, stated that Stellar had a more significant technological advantage when it comes to its Ripple counterparts.
Weiss also has a penchant for stating the very probably. Back in October last year, Weiss noted that China would never use Bitcoin as some form of payment medium. The comment came just after the country’s Center for Information and Industry Development, or CCID, released its crypto rankings index, the 14th edition, to be exact.