Bitcoin Isn't a Snack: Aussie Senator Takes Heat

Australian Senator Gerard Rennick (@SenRennick) recently faced backlash after calling Bitcoin a Ponzi scheme because "you can't eat Bitcoin." His comments sparked outrage among Bitcoin supporters, who argued that Bitcoin's value isn't based on its digestibility. Bitcoin enthusiasts, like Laura Shin (@laurashin) and Jimmy Kostro, sarcastically questioned Rennick’s understanding of innovation. The Australian Bitcoin Industry Body stressed this misconception could lead to flawed policies. The ongoing debate highlights the clash between traditional financial perspectives and the digital currency revolution.