Australian Senator (#Australia ) Gerard Rennick recently drew attention by predicting that Bitcoin could reach 1 million USD, despite calling it a "Ponzi scheme" due to its limited supply and the flow of money from institutions like BlackRock (May 26, 2025). However, despite the critical viewpoint, Bitcoin remains the focal point of investment in Australia, providing a great opportunity for smart investors.

The breakthrough potential of Bitcoin

Bitcoin, currently trading at 108,904 USD (CoinMarketCap, May 26, 2025), is benefiting from the interest of global financial institutions. Australia, with 1.2 million crypto users (Statista, 2025), is a vibrant market, driven by friendly regulations from #AUSTRAC . Bitcoin ETF funds in Australia, such as the Monochrome Bitcoin ETF, attracted 150 million AUD in 2024, according to ASX. The limited supply (21 million BTC) and high demand from institutional investors are driving Bitcoin's price surge, which could reach 150,000–200,000 USD by the end of 2025, according to TradingShot. #anhbacong