Former British Prime Minister Boris Johnson stated he had at all times feared that Bitcoin was a “large Ponzi scheme,” and the most recent tales concerning the cryptocurrency seem to show him proper.
Former PM Johnson calls Pokemon playing cards a greater wager than BTC
In a Every day Mail column on March 13, former British Prime Minister Boris Johnson shared his ideas on Bitcoin, the world’s largest cryptocurrency by market capitalization. In line with a former political chief, Bitcoin and different cryptocurrency property are Ponzi schemes as a result of they lack intrinsic worth and should not have sufficient real-world use.
Johnson argued that Bitcoin depends on the “greater idiot” concept and is sustained by the collective perception that limitless new patrons will emerge. A former British chief has warned that extraordinary persons are more and more falling sufferer to cryptocurrency-related scams, as he shared the story of a disgruntled native investor.
Evaluating the flagship cryptocurrency to conventional shops of worth akin to gold and fiat, Johnson argued that Pokémon playing cards are a safer wager in the long run than the world’s largest cryptocurrency. Citing the historic attraction of gold and the sentimental worth of classic Pikachu playing cards, the previous prime minister referred to as Bitcoin a “string of numbers” with no central authority or accountability.
In reality, Johnson argued that the distinctive energy of cryptocurrency, decentralization, is its best weak point. The previous mayor of London predicted in a Every day Mail column {that a} decline in belief, particularly amongst extraordinary individuals, could be the reason for Bitcoin’s demise.
Apparently, opposite to his current feedback in his Every day Mail column, the Johnson administration has performed a major position in opening up the UK to the digital asset {industry}. In April 2022, then-Chancellor of the Exchequer Rishi Sunak unveiled vital initiatives to make the UK a “world hub for crypto expertise and funding.”
Bitcoin just isn’t a Ponzi scheme: Michael Seiler
As anticipated, Johnson’s remarks about the perfect cryptocurrency sparked attention-grabbing reactions from numerous quarters of the cryptocurrency neighborhood. Michael Saylor, Technique’s founder and chairman, was essentially the most vocal in his rebuttal to the previous prime minister’s claims.
Bitcoin just isn’t a Ponzi scheme. Ponzi requires a central operator to vow a return and pay out funds from later buyers to early buyers. Bitcoin has no issuer, no promoters, and no assured return. It’s merely an open, decentralized foreign money community that operates in keeping with code and market demand.
— Michael Saylor (@saylor) March 13, 2026
In a response to X (previously Twitter), Saylor stated Bitcoin just isn’t a Ponzi scheme. Utilizing the definition of a Ponzi scheme, the technique chairman reiterated that the flagship cryptocurrency doesn’t have a “central operator who guarantees returns and pays early buyers with later funds,” which is commonly required in Ponzi schemes.
Saylor wrote:
Bitcoin has no issuer, no promoters, and no assured return. It’s merely an open, decentralized foreign money community that operates in keeping with code and market demand.
Saylor is one among Bitcoin’s strongest supporters, and his firm’s regular acquisitions show his perception in Bitcoin’s long-term promise. As of this writing, the BTC value is round $70,590, down 1.4% within the final 24 hours.
The worth of BTC on the each day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from Reuters, chart from TradingView
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