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.
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17 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
Former UK PM Johnson Calls BTC a Scam, Draws Criticism From Bitcoiners – #CryptoUpdatesGNIT
Boris Johnson, the former prime minister of the United Kingdom, called Bitcoin (BTC) a “Ponzi Scheme” that has less value than Pokémon cards, collectibles he said had a wide appeal and a multi-decade history. Johnson wrote an opinion article published in the Daily Mail on Friday that began with a story about a friend who had given 500 British pounds, or about $661, to a man who promised to “double his money” by investing it in BTC. The friend co…
Michael Saylor Rejects Boris Johnson’s Ponzi Scheme Claim on Bitcoin
Michael Saylor and Eric Trump defended Bitcoin after Boris Johnson labeled cryptocurrencies a “giant Ponzi scheme.” The debate reflects continuing disagreements among political leaders and investors about Bitcoin’s value and financial legitimacy. Michael Saylor and Eric Trump defended Bitcoin after criticism from former UK Prime Minister Boris Johnson. Johnson wrote in a column that Bitcoin and other cryptocurrencies resemble “a giant Ponzi sche…
Ex-Premier Boris Johnson calls Bitcoin a "Ponzi Scheme" and doubts its value. From the crypto space comes sharp criticism of his statements. Source: BTC-ECHO BTC-ECHO
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