According to PANews, Australian Senator Gerard Rennick called Bitcoin a Ponzi scheme on the X platform and questioned its value, saying it 'cannot be eaten.' He also stated that Bitcoin 'absolutely does not produce anything.'
The Australian Bitcoin Industry Association pointed out that Rennick's remarks show a misunderstanding of Bitcoin. 'Unchained' podcast host Laura Shin countered that the internet also cannot be eaten. Bitcoin Marathon team leader Jimmy Kostro urged Rennick to share a deeper understanding of Bitcoin.