Weiss Crypto Ratings–an offshoot of the long established Weiss Ratings, an investment ratings agency–has elevated bitcoin to the top slot on its crypto ratings chart.
In its latest release on the best cryptos to invest in, bitcoin was given an A-, pipping Ethereum as the out and out best choice to plough your fiat into. Which is unsurprising considering bitcoin’s price has quintupled since December–whereas Ethereum’s has merely doubled. But bitcoin hasn’t always been the apple of Weiss’ eye.
In January, 2018, when Weiss released its first rankings, it labeled bitcoin as “fair” with a C+, putting it outside the top 10. This naturally sent crypto Twitter into a tizz–to put it mildly–with many questioning if Weiss had an alternative motive for its gruelling assessment of the father of crypto. Cardano creator and Ethereum co-founder went so far to say Weiss had “screws loose.” But how things have changed.
The agency’s explanation for bitcoin’s rise, according to an interview with Martin D. Weiss, founder of Weiss Ratings, was a reduction in tech roadblocks and adoption of new features including SegWit and transaction batching. Among the five measures Weiss uses to assess each currency–overall rating, adoption, technology, investment reward, investment risk–bitcoin tops four. In the technology category, however, it’s not even in the top 10–so it’s not that impressed. But despite Weiss’ low opinion of its tech roadmap, it’s the one to watch.
Weiss’ ranking of bitcoin has been climbing steeply in the last month. On June 14, Weiss moved bitcoin from a B- to a B amid its journey back above $10,000.
Other coins in the top five included Ethereum, EOS, Ripple and Litecoin, which tracks roughly in line with their respective market cap. Bitcoin Cash however, the fourth largest currency by value, has slid outside the top 20 ranked coins, which we assume, is the result of all those legal issues Craigh Wright keeps having. Not all publicity is good publicity, eh Craig?