Bitcoin’s Long-Term Value Doubted Due to ESG, Tighter Rules
- ‘Stay away’ from largest cryptocurrency, BCA Research warns
- But Citi remains bullish, saying Bitcoin is at a tipping point
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Bitcoin is nursing losses after its worst weekly plunge in almost a year and on one view its longer term outlook could be even worse because of environmental concerns and tightening regulations.
The sheer amount of energy needed to mine Bitcoin and the prospect that governments will create more obstacles for the largest cryptocurrency point to the token losing “most of its value over time,” BCA Research Inc. said.