Former British Prime Minister Boris Johnson has at all times nervous that Bitcoin is a “big Ponzi scheme” and mentioned the most recent story surrounding the cryptocurrency appears to show him proper.
Former Prime Minister Boris Johnson says Pokemon playing cards are a greater possibility than BTC
In a column for the Every day Mail on March 13, former British Prime Minister Boris Johnson shared his ideas on Bitcoin, the world’s largest cryptocurrency by market capitalization. Bitcoin and different crypto property are Ponzi schemes as a result of they lack intrinsic worth and adequate real-world use, in response to a former political chief.
Johnson argued that Bitcoin depends on the “Nice Idiot” idea, supported by a collective perception that there will likely be an infinite variety of new patrons. A former British chief has shared tales of native buyers who’ve been victimized and warned that abnormal individuals are more and more falling sufferer to crypto-related scams.
Johnson argued that Pokemon playing cards are a safer long-term wager than the world’s largest cryptocurrency, evaluating the flagship cryptocurrency to conventional shops of worth reminiscent of gold and fiat currencies. The previous prime minister referred to as Bitcoin a “string of numbers” with no central authority or accountability, citing the historic enchantment of gold and the sentimental worth of classic Pikachu playing cards.
The truth is, Johnson argued that cryptocurrencies’ distinctive promoting level, decentralization, is their largest weak point. The previous London mayor predicted in a column for the Every day Mail {that a} decline in belief, particularly among the many normal public, can be the reason for Bitcoin’s demise.
Curiously, and opposite to his current feedback in a Every day Mail column, Johnson’s personal authorities was very instrumental in opening the door to the UK’s digital property business. In April 2022, then Chancellor of the Exchequer Rishi Sunak introduced important initiatives to make the UK a “world hub for crypto know-how and funding”.
Bitcoin just isn’t a pyramid scheme: Michael Saylor
As anticipated, Johnson’s feedback concerning the premier cryptocurrency sparked fascinating reactions from varied sectors of the crypto group. Michael Saylor, founder and chairman of Technique, has been one of the vocal opponents of the previous prime minister’s claims.
Bitcoin just isn’t a Ponzi scheme. In Ponzi, a central operator guarantees returns and requires early buyers to pay out cash from later buyers. Bitcoin has no issuer or promoter and no assure of revenue. It’s nothing greater than an open, decentralized financial community pushed by code and market demand.
— Michael Saylor (@saylor) March 13, 2026
In a reply to X (previously Twitter), Saylor mentioned that Bitcoin just isn’t a pyramid scheme. Utilizing the definition of a Ponzi scheme, the technique chairman reiterated that the main cryptocurrency doesn’t have a “central operator who guarantees returns and pays early buyers with funds from later buyers” as is commonly required in Ponzi schemes.
Thaler writes:
Bitcoin has no issuer or promoter and no assure of revenue. It’s nothing greater than an open, decentralized financial community pushed by code and market demand.
Saylor has been one among Bitcoin’s most vocal proponents, and his firm’s regular acquisitions are proof of his perception in Bitcoin’s long-term promise. As of this writing, the value of BTC is round $70,590, reflecting a 1.4% decline over the previous 24 hours.
The value of BTC on the each day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from Reuters, chart from TradingView
