Former British PM Boris Johnson Makes Bizarre Bitcoin Prediction

Former British Prime Minister Boris Johnson has strongly criticized Bitcoin, calling it a “giant Ponzi scheme” and predicting its eventual collapse. He based his argument on a personal anecdote and historical comparisons, asserting that Bitcoin lacks the authority of traditional currencies backed by centralized governments. Johnson believes its value relies on “suspension of disbelief” and warned of potential losses for investors. However, the crypto community swiftly countered his claims, with figures like Michael Saylor and Kwasi Kwarteng arguing that Bitcoin is fundamentally different from a Ponzi scheme and represents a natural evolution of money. They highlighted Bitcoin’s decentralized nature, transparent code, and growing institutional adoption, including the launch of spot Bitcoin ETFs and the consideration of Bitcoin as strategic reserves by nation-states.

(Source：BeInCrypto)