The post Michael Saylor Claps Back After Boris Johnson Brands Bitcoin a ‘Ponzi Scheme’ appeared on BitcoinEthereumNews.com.

TLDR Ex-UK Prime Minister Boris Johnson labeled Bitcoin a “giant Ponzi scheme” in his Daily Mail editorial. Johnson recounted a tale of a local resident who lost approximately £20,000 (~$26,450) in what he characterized as a Bitcoin-related scam. He raised doubts about trusting a monetary system developed by the anonymous Satoshi Nakamoto. Michael Saylor, Strategy’s chairman, countered by highlighting that Bitcoin lacks an issuer, promoter, or return guarantees. Social media users emphasized Bitcoin’s capped supply and transparent code as proof it doesn’t match Ponzi scheme characteristics. The cryptocurrency community found itself in heated debate this week following former UK Prime Minister Boris Johnson’s characterization of Bitcoin as a “giant Ponzi scheme” in his newspaper commentary. Digital asset supporters wasted no time mounting their defense. I’ve long suspected Bitcoin is a giant Ponzi scheme and now I’m hearing tales of woe that make me fear I’m right.https://t.co/rTny2NBaYB — Boris Johnson (@BorisJohnson) March 13, 2026 Johnson’s controversial opinion appeared in the Daily Mail on Friday, March 14, 2026. The article began by recounting an anecdote involving an Oxfordshire villager who gave £500 (~$661) to a pub acquaintance promising to double his investment through Bitcoin. According to Johnson, this individual spent three and a half years attempting to recover his funds while paying various fees. The effort proved futile. Ultimately, the man lost approximately £20,000 (~$26,450), leaving him “struggling to pay his bills,” Johnson claimed. The former PM leveraged this narrative to contend that Bitcoin lacks intrinsic value. He drew unfavorable contrasts with gold and even Pokémon trading cards, asserting these possess tangible or cultural worth. “These curious little Japanese cartoon beasties seem to exercise the same fascination over the five-year-old mind as they did 30 years ago,” Johnson penned, implying Pokémon cards hold more tradability than Bitcoin. Johnson further challenged the credibility…

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Filed under: News - @ March 15, 2026 8:23 am