๐๐๐๐๐ฟ๐ฎ๐น๐ถ๐ฎ๐ป ๐ฆ๐ฒ๐ป๐ฎ๐๐ผ๐ฟ ๐ฆ๐ฎ๐๐ โ๐ฌ๐ผ๐ ๐๐ฎ๐ปโ๐ ๐๐ฎ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ปโ โ ๐๐ฟ๐๐ฝ๐๐ผ ๐๐ผ๐บ๐บ๐๐ป๐ถ๐๐ ๐๐ถ๐ฟ๐ฒ๐ ๐๐ฎ๐ฐ๐ธ
Australian Senator Gerard Rennick has sparked a heated crypto debate after claiming Bitcoin is โthe only real cryptoโ and calling other digital assets โponzi schemes.โ His sharp comments have ignited strong reactions across the crypto community, especially from Ethereum, DeFi, and NFT supporters.
โ Rennickโs View: Only Bitcoin is Legit
At a blockchain event, Rennick said:
โYou canโt eat Bitcoin, but at least itโs the only real crypto. The rest are scams.โ
He dismissed altcoins for lacking value and criticized their economic models โ drawing support from some Bitcoin maximalists.
โ The Crypto Community Responds
While some agreed with his praise for Bitcoinโs fundamentals, many fired back:
Ethereum developers defended smart contracts and DeFi innovation
NFT creators called it short-sighted and out of touch
Investors warned this kind of narrative could stall Web3 adoption
โ๏ธ Regulatory Impact?
Rennickโs high-profile remarks may influence Australiaโs crypto policy direction. With regulation on the table, this divide between Bitcoin-only views and broader Web3 support could shape how laws are written and enforced in the future.
Is Bitcoin the only โrealโ crypto? Or is the Senator missing the bigger Web3 picture?
Drop your thoughts below!