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Steven Walgenbach

Boris Johnson Labels Bitcoin a "Giant Ponzi" as Michael Saylor and Crypto Community Push Back

On March 13, 2026, former U.K. Prime Minister Boris Johnson described Bitcoin as a "giant Ponzi scheme" in a Daily Mail column and on X, using a village scam story involving losses of about £20,000 to question the asset's value. Michael Saylor and other crypto supporters countered that Bitcoin lacks the centralized organizer and guaranteed returns typical of Ponzi structures, stressing its fixed 21 million supply and decentralized, open-source design. The dispute broadened into a wider debate over monetary systems, with some critics arguing that inflationary fiat currencies may be more vulnerable to long-term value erosion than Bitcoin's capped model.
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