American provider of investment data Weiss Ratings has ranked Bitcoin (BTC) as "fantabulous" past assigning it an A- class due to strong price performance.

Bitcoin upgraded thanks to improving fundamentals

In a tweet published on Feb. 7, Weiss Ratings appear:

"The Weiss Crypto Rating for #BTC is now A- (excellent), thanks to improving fundamentals and positive cost action ahead of Bitcoin'south next halving."

Previously, in belatedly March 2022, Weiss Ratings put Bitcoin bated XRP and EOS as cryptocurrencies that take the all-time combination of adoption and technology. At present, Bitcoin has a higher course than both those assets, with XRP standing at B- and EOS at C afterwards a downgrade for centralization. XRP's current rating is also lower than the A information technology was assigned in March.

Comparatively, China — one of the nearly blockchain-friendly countries worldwide — periodically issues its ain cryptocurrency ratings, namely from China'south land-backed tech workgroup, the Center for Information and Industry Development (CCID). The latest ratings published at the cease of September put Bitcoin in the eleventh spot.

Meanwhile, the CCID puts EOS in the top spot with Tron (TRX) second and Ethereum (ETH) third. XRP, on the other manus, is ranked twentieth.

The significance of Bitcoin's halving

Weiss Ratings emphasizes the importance of the upcoming Bitcoin halving event, which refers to the reduction by 50% of the rate at which new coins are produced. Miners that secure the blockchain are compensated with new coins for every new block that they create and before long the number of new Bitcoins created for every block will driblet from 12.five to 6.25 coins.

Further in the futurity, the creation of new blocks volition only be compensated with the transaction fees and new coins will not be created anymore.

As Cointelegraph reported yesterday, major United States-based cryptocurrency commutation Coinbase recently said that halving will move Bitcoin closer to beingness digital gold. The firm noted:

"Armed with a myriad of technological advantages, accelerating development, and maturing global market, Bitcoin is a store of value to rival gold in the digital age."

As reported earlier today, Bitcoin has just broken $10,000 for the first time this year. After starting 2022 at $7,227, Bitcoin's cost consistently grew until reaching the current value of $10,140, a xl% gain since the get-go of the year.