Bitcoin (BTCUSD) just lost more than 50% of its value in a matter of months and is getting analyst attention again, albeit for all the wrong reasons. Richard Farr, who is the chief market strategist and partner at Pivotus Partners, just lowered his price target on the cryptocurrency to zero. His reasons: Bitcoin fails as a medium of exchange due to its environmental impact and faces multiple hurdles in institutional adoption.
"No serious central bank will ever own something where Michael Saylor controls the float."
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