In a recent opinion piece published in the Daily Mail, former UK Prime Minister Boris Johnson criticized Bitcoin, labeling it a “Ponzi Scheme” and suggesting it holds less value than collectible Pokémon cards. Johnson recounted a friend's experience of losing nearly £20,000 (around $26,474) in a BTC investment scheme that promised to double his money but ultimately led to financial distress.
He highlighted how this friend struggled to pay his bills, indicating that many others in the community faced similar challenges. Johnson argued that unlike Bitcoin, collectible cards have a longstanding popularity and appeal, making them more valuable assets.
The article sparked backlash from the Bitcoin community, with industry figures like Michael Saylor, co-founder of Strategy, asserting that Bitcoin does not fit the definition of a Ponzi scheme due to its decentralized nature and lack of a central promoter. Pierre Rochard, CEO of The Bitcoin Bond Company, countered Johnson’s claims by describing the UK financial system itself as a “giant Ponzi scheme.”