On May 25, an Australian Senator Gerard Rennick was criticized by the Bitcoin community for calling Bitcoin a Ponzi scheme and questioning its value on the X platform, arguing that Bitcoin "cannot be eaten". He also commented that Bitcoin "certainly does not create any products" and suggested that Australia needs "real engineers, not financial engineers". The Australian Bitcoin Industry Association (ABIB) responded that Rennick's comments demonstrate a serious misunderstanding of Bitcoin.
Laura Shin, host of the "Unchained" podcast, shared: "You cannot eat the Internet, so do you also oppose the Internet?" Meanwhile, Jimmy Kostro, leader of the Bitcoin Marathon team, requested Rennick to share more in-depth perspectives about Bitcoin for better understanding.
These opinions highlight the ongoing debate about whether cryptocurrency's value extends beyond traditional physical factors, focusing on the technological and financial potential that cryptocurrencies offer.
