“What exactly will this product produce? Absolutely nothing and nor will the thousands of people buying and selling it. Australia needs real engineers not financial engineers. We need infrastructure that’s delivers essential services particularly energy, water and transport. You can’t eat Bitcoin.”
Gerard Rennick, Australian Senator · Bitcoin since: -26%
As published by Decrypt
A little perspective.
Bitcoin on that day$109,024May 26, 2025
$100 at that price$73.55At our latest price check
Illustrative value using a Bitcoin price of $80,189, checked Oct 29, 2026, 10:00 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “Australian Senator Slams Bitcoin As 'Ponzi Scheme'” — Gerard Rennick, Decrypt, May 26, 2025. Bitcoin: $109,023.78. https://bitcoindeaths.com/posts/2025-05-26-australian-senator-slams-bitcoin-as-ponzi-scheme