Australian Senator Slams Bitcoin as 'Ponzi Scheme'

Australian Senator Slams Bitcoin as 'Ponzi Scheme' - WorldNL Magazine

In brief Responding to a sarcastic prompt on X, Australian Senator Gerard Rennick called Bitcoin a “Ponzi scheme” driven by asset managers such as BlackRock. Critics, including the Australian Bitcoin Industry Body, said his comments were "misinformed" and could lead to damaging policy. The clash came as Australia's Labor government prepares crypto legislation under its post-election mandate. Bitcoin (BTC) may be gaining momentum globally, but in…

Aussie Senator Dismisses Bitcoin As A ‘Ponzi Scheme’, Sparks Fierce Community Backlash

Australian Senator Gerard Rennick has attracted the ire of the Bitcoin community following his remarks referring to Bitcoin as a Ponzi scheme driven by asset managers like BlackRock, and questioning the top cryptocurrency’s value because it can’t be eaten. Bitcoin Will Ultimately Hit $1 Million Because It’s A Ponzi Scheme Bitcoin (BTC) may be gaining momentum globally, but an Australian politician is still not sold on the asset. “You can’t eat B…

Aussie Senator Slams Bitcoin as a 'Ponzi Scheme'

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Senator Rennick’s Critique of Bitcoin Heightens Australian Crypto Debate Amidst Regulatory Developments

Bitcoin (BTC) has recently surged to a new all-time high, provoking a divide between political sentiment and public support in Australia. Despite the growing acceptance of cryptocurrencies globally, some politicians

Australian Senator Slams Bitcoin as 'Ponzi Scheme'

“You can’t eat Bitcoin,” Senator Gerard Rennick said after BTC hit $111K, prompting backlash as crypto rules take shape in Australia.