Crypto Leaders Push Back After Boris Johnson Calls Bitcoin a Ponzi
Several distinguished figures within the cryptocurrency trade have pushed again towards former UK Prime Minister Boris Johnson after he described Bitcoin as a Ponzi scheme in a newspaper column.
Key Takeaways:
- Boris Johnson referred to as Bitcoin a “Ponzi scheme,” warning readers towards investing in cryptocurrencies.
- Crypto leaders together with Michael Saylor, Paolo Ardoino and Adam Back rapidly rejected the declare.
- Critics argue Bitcoin lacks the central operator required for a Ponzi scheme.
Johnson, who led the United Kingdom from 2019 to 2022, wrote in a Daily Mail article that he had “lengthy suspected Bitcoin is a big Ponzi scheme,” warning readers towards placing cash into digital property.
The feedback rapidly drew responses from well-known voices throughout the crypto sector, together with Strategy co-founder Michael Saylor, Tether CEO Paolo Ardoino and early Bitcoin developer Adam Back.
Saylor Rejects Boris Johnson’s Bitcoin ‘Ponzi’ Claim
Saylor rejected Johnson’s characterization in a submit on X, arguing that Bitcoin doesn’t meet the definition of a Ponzi scheme.
“A Ponzi requires a central operator promising returns and paying early traders with funds from later ones,” Saylor wrote. “Bitcoin shouldn’t be a Ponzi scheme.”
Johnson’s remarks have been prompted by a private anecdote in his column. He described assembly an aged churchgoer who had fallen into monetary issue after buying Bitcoin and later sought assist protecting his losses.
While acknowledging that Bitcoin operates with out a central authority, Johnson argued that the cryptocurrency finally depends on public perception in its worth.
“If folks lose religion in Bitcoin, it collapses,” he wrote, including that he fears extra people, significantly older traders, might undergo losses tied to the asset.
The criticism was met with swift rebuttals from the crypto group. Investor and fund supervisor Fred Krueger responded on X by contrasting Bitcoin’s decentralized design with conventional monetary establishments.
“A Ponzi often wants a central operator, Boris,” Krueger wrote. “Bitcoin simply has math.”
Tether chief Paolo Ardoino additionally responded, highlighting group notes on Johnson’s submit explaining why Bitcoin doesn’t match the traits of a Ponzi scheme.
Meanwhile, Adam Back, CEO of blockchain know-how agency Blockstream, joined the dialogue with a transient reply addressing the previous prime minister by his nickname “Bozza.”
bozza!
— Adam Back (@adam3us) March 14, 2026
Bitcoin Ponzi Claims Resurface as Critics Renew Attacks
Bitcoin has regularly confronted accusations of resembling a Ponzi scheme from critics over time.
Economist Nouriel Roubini has previously described cryptocurrencies as a “real-bubble Ponzi scheme,” whereas European Central Bank government Fabio Panetta once compared the digital asset market to a “home of playing cards.”
Supporters of Bitcoin argue the comparability is flawed as a result of the community lacks a central operator, a defining function of basic Ponzi schemes.
Instead, they are saying the cryptocurrency operates as an open financial system ruled by code and market exercise fairly than guarantees of assured returns.
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