PANews news on May 25th, according to Cointelegrap, Australian Senator Gerard Rennick was criticized by the Bitcoin community on the X platform for calling Bitcoin a Ponzi scheme and questioning its value (because it "cannot be eaten"). He added that Bitcoin "absolutely will not produce anything" and that Australia "needs real engineers, not financial engineers".
The Australian Bitcoin Industry Association (ABIB) stated that Rennick's comments about "Bitcoin" reveal a profound misunderstanding of Bitcoin. "Unchained" podcast host Laura Shin said: "You cannot eat the internet either, so do you oppose the internet?" Jimmy Kostro, head of Bitcoin Marathon, said: "This will definitely endure. Please share your more in-depth and detailed understanding of Bitcoin to help us understand better."
