US EditionBoris Johnson Calling Bitcoin a ‘Ponzi’ Draws Rebuttal From Michael Saylor and Others
Johnson claims Bitcoin depends on new investors and lacks government backing, while Saylor says it is a decentralized network without a central operator, noting its $1.41 trillion market cap.
- In a Daily Mail column, Boris Johnson, former UK prime minister, likened cryptocurrencies to a Ponzi scheme because their value depends on a steady flow of new buyers.
- Framing his concern, Johnson contrasted crypto with traditional money that gains credibility from governments and institutions, citing a villager who invested about £500 and later lost nearly £20,000 after fees.
- Responding sharply, Michael Saylor wrote 'Bitcoin is not a Ponzi scheme' on X, citing market figures including Bitcoin trading at $70,647.42 and a $1.41 trillion market cap.
- The exchange spotlighted investor-protection concerns as Michael Saylor and others rebutted Johnson's claim, with Saylor stating 'Bitcoin is not a Ponzi scheme', and Johnson citing a villager who lost nearly £20,000 after recovery attempts.
- High-Profile figures on both sides amplified the debate as Boris Johnson, former UK prime minister, questioned crypto value while Michael Saylor defended Bitcoin's backing and legitimacy.
23 Articles
23 Articles
Boris Johnson calling Bitcoin a ‘Ponzi’ draws rebuttal from Michael Saylor and others
The cryptocurrency community pushed back, with Michael Saylor saying Bitcoin has no issuer, promoter, or guaranteed return, and is instead driven by code and market demand.
On Friday, Michael Saylor defended Bitcoin (CRYPTO: BTC) after former UK Prime Minister Boris Johnson described cryptocurrencies as a Importance Rank: 1
Boris Johnson Calls Bitcoin a ‘Ponzi Scheme,’ Sparks Debate
Former Prime Minister of the United Kingdom Boris Johnson called Bitcoin a “Ponzi scheme” in his latest opinion article. Johnson said that Bitcoin does not have any real value and that it is inferior to Pokemon cards, incurring criticism from cryptocurrency proponents and executives. Johnson wrote an opinion article published on Daily Mail on Friday. He started with a personal experience where his friend donated 500 British pounds, which is appr…
Former UK Prime Minister Calls Bitcoin A ‘Giant Ponzi Scheme’, Strategy’s Saylor Replies
Former Prime Minister of the United Kingdom, Boris Johnson, said he has always feared that Bitcoin is a “giant Ponzi scheme,” with the latest stories around the cryptocurrency appearing to prove him right. Former Prime Minister Johnson Calls Pokémon Cards A Better Bet Than BTC In a March 13 Daily Mail column, former UK Prime […]
Former UK Prime Minister Calls Bitcoin A 'Giant Ponzi Scheme', Strategy’s Saylor Replies
Former Prime Minister of the United Kingdom, Boris Johnson, said he has always feared that Bitcoin is a “giant Ponzi scheme,” with the latest stories around the cryptocurrency appearing to prove him right. 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 thoughts about Bitcoin, the world’s largest cryptocurrency by market capitalization. Ac…
Former UK Prime Minister Boris Johnson Calls Bitcoin a Ponzi Scheme
Former UK prime minister Boris Johnson sparked a fresh volley of criticism around Bitcoin by labeling it a Ponzi scheme in a Daily Mail op-ed. He recounts a personal anecdote: a friend who handed over 500 pounds, or about $661, to a promoter who promised to “double his money” via BTC, only to be drawn into a years-long cycle of fees and delays. Over three and a half years, the friend’s losses mounted to roughly 20,000 pounds, around $26,474, lea…
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