Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

Australian Senator Gerard Rennick criticized Bitcoin, saying “you can’t eat Bitcoin.” A Bitcoiner replied, asking if he feels the same about the internet.

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.

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