Boris Johnson Criticizes Bitcoin, Calls It a 'Ponzi Scheme'

Former UK Prime Minister Boris Johnson has labeled Bitcoin as a 'Ponzi scheme' in an article for the Daily Mail. According to Odaily, Johnson argued that collectible Pokémon cards hold more tangible value as tradable assets compared to Bitcoin. He shared a story about a friend who initially paid £500 to someone promising to double their investment through Bitcoin trading. Over three and a half years, the friend continued to pay various fees, transferring a total of around £20,000, but never received any returns. In response, Strategy co-founder Michael Saylor stated that Bitcoin is an open, decentralized currency network driven by code and market demand, without issuers, promoters, or guaranteed returns. Pierre Rochard, CEO of The Bitcoin Bond Company, remarked that the UK financial system itself relies on a debt-driven structure sustained by continuous borrowing.