Australian senator Gerard Rennick's criticism of Bitcoin on the X platform, calling it a "Ponzi scheme" and questioning its value because it was "inedible", sparked a strong response from the Bitcoin community.
The Australian Bitcoin Industry Organisation (ABIB) said Rennick's comments showed a deep misunderstanding of Bitcoin that could lead to wrong policymaking. In addition, several Bitcoin proponents also defended the value and utility of Bitcoin, pointing to its importance as a digital asset and store of value.
Australian senator sparks controversy over "bitcoin can't eat" remarks
2025-05-25 06:06:32
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