Australian Senator Gerard Rennick criticized Bitcoin because “you can’t eat Bitcoin.” A Bitcoiner asked if Rennick feels the same way about the internet because you can’t eat that either.
Australian Senator Gerard Rennick has drawn criticism from the Bitcoin community following his remarks referring to Bitcoin as a Ponzi scheme and questioning the asset’s value because it can’t be eaten.
“You can’t eat Bitcoin,” Rennick said in a May 23 X post, responding to an X user who questioned his stance after Bitcoin hit a new all-time high of $111,970 on May 22.
“Bitcoin will ultimately go to $1 million dollars. Why because it’s a Ponzi scheme whereby BlackRock will pump more and more dollars into a supply constrained product,” Rennick said.
