Former Prime Minister of the United Kingdom, Boris Johnson, mentioned he has all the time feared that Bitcoin is a “giant Ponzi scheme,” with the most recent tales across the cryptocurrency showing to show him proper.
Former Prime Minister Johnson Calls Pokémon Cards A Better Bet Than BTC
In a March 13 Daily Mail column, former UK Prime Minister Boris Johnson shared his ideas about Bitcoin, the world’s largest cryptocurrency by market capitalization. According to the previous political chief, Bitcoin and different crypto belongings are a Ponzi scheme as a result of they lack intrinsic worth and ample real-world makes use of.
Johnson argued that Bitcoin depends on the “greater fool” principle and is sustained by the collective perception that countless new consumers will emerge. Sharing the story of an aggrieved native investor, the previous UK chief warned that bizarre persons are more and more falling sufferer to crypto-related fraud.
Johnson in contrast the flagship cryptocurrency to conventional shops of worth, resembling gold and fiat foreign money, whereas claiming that Pokémon playing cards are a safer long-term wager than the world’s largest cryptocurrency. While noting the historic attract of gold and the sentimental worth of classic Pikachu playing cards, the previous Prime Minister referred to as Bitcoin “strings of numbers” with no central authority or accountability.
In truth, Johnson argued that decentralization, a singular promoting level of cryptocurrencies, is their biggest weak spot. In his Daily Mail column, the previous Mayor of London predicted that the eroding confidence — particularly amongst common folks — would be the reason behind Bitcoin’s finish.
Interestingly, opposite to his newest feedback in his Daily Mail column, Johnson’s personal administration was fairly instrumental in opening the UK’s doors to the digital asset industry. In April 2022, the then-Chancellor of the Exchequer, Rishi Sunak, unveiled a major initiative to make the United Kingdom a “global hub for cryptoasset technology and investment.”
Bitcoin Is Not A Ponzi Scheme: Michael Saylor
Expectedly, Johnson’s feedback in regards to the premier cryptocurrency sparked attention-grabbing reactions from completely different corners of the crypto group. Strategy’s founder and chairman, Michael Saylor, produced one of many loudest rebuttals to the previous Prime Minister’s claims.
Bitcoin will not be a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early buyers with funds from later ones. Bitcoin has no issuer, no promoter, and no assured return—simply an open, decentralized financial community pushed by code and market demand.
— Michael Saylor (@saylor) March 13, 2026
Saylor, in a reply on X (previously Twitter), mentioned that Bitcoin will not be a Ponzi scheme. Using the definition of a Ponzi scheme, the Strategy chairman reiterated that the flagship cryptocurrency has no “central operator promising returns and paying early buyers with funds from later ones,’ as usually required by Ponzi schemes.
Saylor wrote:
Bitcoin has no issuer, no promoter, and no assured return—simply an open, decentralized financial community pushed by code and market demand.
Saylor has been probably the most vocal supporters of Bitcoin, along with his firm’s regular acquisition a proof of his perception in Bitcoin’s long-term promise. As of this writing, the worth of BTC stands at round $70,590, reflecting a 1.4% decline prior to now 24 hours.
The value of BTC on the day by day timeframe | Source: BTCUSDT chart on TradingView
Featured picture from Reuters, chart from TradingView
Editorial Process for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent overview by our staff of high expertise consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
