Boris Johnson compares Bitcoin to a Ponzi scheme
Former UK Prime Minister Boris Johnson said he believes Bitcoin resembles a Ponzi scheme, citing the experience of an acquaintance who lost a significant amount of money investing in BTC.
The remarks were reported by Incrypted
Concerns about lack of accountability
Johnson argued that one of the main issues with cryptocurrency is the absence of a central authority responsible for the system.
According to him, if the system loses value or is compromised, there is no one to hold accountable or file a complaint with.
Response from Bitcoin supporters
However, Strategy founder Michael Saylor rejected the comparison.
He pointed out that a Ponzi scheme requires a central operator promising returns to investors, which Bitcoin does not have.
A decentralized network
Unlike such schemes, Bitcoin has no issuer, no guaranteed profits, and no central management, operating instead as an open decentralized network.
The debate around the nature of cryptocurrencies continues, with statements like these often fueling broader discussions about regulation and the role of digital assets in the financial system.
