Former Prime Minister of the UK, Boris Johnson, mentioned he has all the time feared that Bitcoin is a “large Ponzi scheme,” with the newest tales across the cryptocurrency showing to show him proper.
Former Prime Minister Johnson Calls Pokémon Playing cards A Higher Guess Than BTC
In a March 13 Each day Mail column, former UK Prime Minister Boris Johnson shared his ideas about Bitcoin, the world’s largest cryptocurrency by market capitalization. In line with the previous political chief, Bitcoin and different crypto property 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 “higher idiot” idea and is sustained by the collective perception that limitless new consumers will emerge. Sharing the story of an aggrieved native investor, the previous UK chief warned that odd individuals are more and more falling sufferer to crypto-related fraud.
Johnson in contrast the flagship cryptocurrency to conventional shops of worth, akin to gold and fiat foreign money, whereas claiming that Pokémon playing cards are a safer long-term wager than the world’s largest cryptocurrency. Whereas noting the historic attract of gold and the sentimental worth of classic Pikachu playing cards, the previous Prime Minister known as Bitcoin “strings of numbers” with no central authority or accountability.
Actually, Johnson argued that decentralization, a novel promoting level of cryptocurrencies, is their best weak spot. In his Each day Mail column, the previous Mayor of London predicted that the eroding confidence — particularly amongst common individuals — would be the reason behind Bitcoin’s finish.
Apparently, opposite to his newest feedback in his Each day Mail column, Johnson’s personal administration was fairly instrumental in opening the UK’s doorways to the digital asset trade. In April 2022, the then-Chancellor of the Exchequer, Rishi Sunak, unveiled a big initiative to make the UK a “international hub for cryptoasset know-how and funding.”
Bitcoin Is Not A Ponzi Scheme: Michael Saylor
Expectedly, Johnson’s feedback in regards to the premier cryptocurrency sparked fascinating reactions from completely different corners of the crypto group. Technique’s founder and chairman, Michael Saylor, produced one of many loudest rebuttals to the previous Prime Minister’s claims.
Bitcoin isn’t 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 isn’t a Ponzi scheme. Utilizing the definition of a Ponzi scheme, the Technique 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 some of the 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 up to now 24 hours.
The value of BTC on the every day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from Reuters, chart from TradingView
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