Why Bank of America is worried about the rising Bitcoin (CRYPTO:BTC) price

The Bitcoin (CRYPTO: BTC) price is down 1.3% over the past 24 hours. One Bitcoin is currently worth US$54,203 (AU$70,400). At that price, the world’s largest crypto has a market cap of US$1.01 trillion, according to data from CoinDesk.

Bitcoin is now down 12% from its record US$61,557, which it reached less than 2 weeks ago on 14 March. However, the digital token is still up more than 85% in 2021. And it’s up more than 700% over the past 12 months.

That’s great news if you bought and held onto Bitcoin over the past months.

But according to Bank of America, it’s far from great news for mother earth.

Why Bank of America is…