The world’s only financial rating agency providing grades on cryptocurrencies, Weiss Crypto Ratings, has upgraded Bitcoin’s overall rating to an “A”. This is due to “improving fundamentals” and the expectation bitcoin’s price will increase as we get closer to the halving event, set to occur on May 12th.
The halving event will reduce block rewards on the Bitcoin blockchain, from 12.5 BTC per block to 6.25 BTC per block. Some analysts believe the inflation cut will bring bitcoin one step closer to being digital gold, and will remind investors of the cryptocurrency’s scarcity.
According to the firm, a cryptocurrency’s overall rating is a “comprehensive, balanced overview of all factors, based on a complex algorithm,” with the “A” rate being interpreted as “excellent.”
Weiss Crypto Ratings take various factors into account which includes potential risk and reward, a cryptocurrency’s technology and adoption, and its market performance. It should be noted that Weiss Ratings has decades of experience in the financial sector.
Title – Weiss Crypto Ratings Upgrades Bitcoin’s Rating to A