Former Prime Minister of the UK, Boris Johnson, mentioned he has all the time feared that Bitcoin is a “big Ponzi scheme,” with the newest tales across the cryptocurrency showing to show him proper.
Former Prime Minister Johnson Calls Pokémon Playing cards A Higher Wager Than BTC
In a March 13 Day by day Mail column, former UK Prime Minister Boris Johnson shared his ideas about Bitcoin, the world’s largest cryptocurrency by market capitalization. In response to the previous political chief, Bitcoin and different crypto belongings are a Ponzi scheme as a result of they lack intrinsic worth and enough real-world makes use of.
Johnson argued that Bitcoin depends on the “larger idiot” principle and is sustained by the collective perception that limitless new patrons will emerge. Sharing the story of an aggrieved native investor, the previous UK chief warned that peculiar persons are more and more falling sufferer to crypto-related fraud.
Johnson in contrast the flagship cryptocurrency to conventional shops of worth, equivalent to gold and fiat foreign money, whereas claiming that Pokémon playing cards are a safer long-term guess 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 point. In his Day by day Mail column, the previous Mayor of London predicted that the eroding confidence — particularly amongst common folks — would be the explanation for Bitcoin’s finish.
Curiously, opposite to his newest feedback in his Day by day Mail column, Johnson’s personal administration was fairly instrumental in opening the UK’s doorways to the digital asset business. In April 2022, the then-Chancellor of the Exchequer, Rishi Sunak, unveiled a big initiative to make the UK a “world 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 attention-grabbing reactions from totally different corners of the crypto neighborhood. Technique’s founder and chairman, Michael Saylor, produced one of many loudest rebuttals to the previous Prime Minister’s claims.
Bitcoin shouldn’t be a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early traders 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 shouldn’t be 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 traders with funds from later ones,’ as typically 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 one 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 worth of BTC on the every day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from Reuters, chart from TradingView
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