Boris Johnson calling Bitcoin a ponzi scheme

[Italian Panic]

Maybe Boris Johnson is part of a ponzi scheme called politics and parliament, but he doesn’t realise it.
The good things were done many years ago when politicians were respectable, now they are all subservient by ECB, bankers and other very dangerous international schemes.
I have never seen politicians do any good things for the people but I have seen private companies make innovation and development where politics created only bureaucracy.
Then I studied the concept of Bitcoin and realised that there are people out there who are worth more than 100 bankers.

[Alphakilo]

Politicians would always be politicians. They would spread their own propaganda to promote another agenda they have in mind and it's just the way it is.
When Trump was running was president, he said and praised the idea of Bitcoin, not knowing he has promoted his own Trump coin that dumped and thus moved onto other ways to use crypto currency for his personal interest and benefits.

With the years Bitcoin has existed and has performed excellently, I wonder why someone like Boris thinks it's a ponzi scheme. Ain't the UK government made policies and regulations to earn from it and infuse it into the economy?  Ain't the U.S created reserve strategic Bitcoin banks to hold seized or confiscated crypto currency for their benefits having seen the performance and solid claim as digital gold?

I sincerely had to look up the date of this post to be sure that someone so high up the political ladder, would stand as an open critic to what the world is already adopting and using to specific benefits.
His concern is noted though and it doesn't do much to affect the price of Bitcoin currently.

[Davidvictorson]

I am very disappointed that a whole former UK Prime Minister does not actually know what ponzi schemes are. Or probably he does not know what bitcoin is. But at least he should know that there is nothing hidden about bitcoin investment like Ponzi scheme.

You don’t got to be disappointed at all. In my estimation I do not think that there is a single significant bitcoin figure or not whose utterance about bitcoin can hold any weight. In the past we used to be bothered about statements like this but right now by reason of many use cases of bitcoin including its diverse network of investors, these statements hold no water anymore.

[Satofan44]

You mean Mr. Johnson, the one who is primarily responsible for the death of more than 1M Ukrainians and the destruction of wast parts of the country? Yes, we should definitely listen to him like Zelensky listened to him. Whatever way the war ends, the country will never fully recover from it at least not within our lifetime and this great corrupt genius Johnson is responsible to a big degree.

I am very disappointed that a whole former UK Prime Minister does not actually know what ponzi schemes are. Or probably he does not know what bitcoin is. But at least he should know that there is nothing hidden about bitcoin investment like Ponzi scheme.

In a ponzi scheme, investors money are used to pay earlier investors with the scheme not generating profit from any business, but the business owners will tell their investors that they are generating profit from a business which is a lie. Later the business can not go on and collapse.

Bitcoin is not like this, nothing hidden, no business but just a coin that has a store of value. Bitcoin has been existing since more than 16 years, many people have profited from it and it is still a store of value.

The year is 2026, not 2011-2013. We do not need to even refute such stupid claims anymore, those are things of the past. This is the level of me claiming that Bitcoin is a fish and you (or someone else) writing the definitions of fish in order to prove me wrong. You are wasting your time, ignore the noise. Whoever can't see past these dumb claims in 2026 himself, he is a complete moron that is most often beyond saving. Did you also know that Bitcoin is an alien UFO?  

[TedMosby]

It's not a surprise and not significant to Bitcoin itself. I think we all here, who have been with Bitcoin for a long time, have already normalized every bad statement about Bitcoin that comes from well-known figures.

You can search on Google, there are many statements that say Bitcoin is a ponzi scheme or something similar to it. Warren Buffett once said, "bitcoin is probably rat poison squared." [1]. Another well-known figure who said a similar thing is Jamie Dimon, CEO of JPMorgan. He said Bitcoin is a fraud and a ponzi scheme [2]. US economist, Nouriel Roubini, also once said Bitcoin is a ponzi game [3].

Source:
[1] https://www.cnbc.com/2018/06/07/warren-buffett-and-jamie-dimon-on-bitcoin-beware.html
[2] https://finance.yahoo.com/news/jamie-dimon-calls-bitcoin-fraud-131026597.html
[3] https://www.coindesk.com/markets/2014/03/10/economist-nouriel-roubini-slams-bitcoin-calls-it-a-ponzi-game

[Ndabagi01]

If at this time and age people are still not believing the concept of bitcoin and are still finding faults in the currency not to be a dependable form of investment, then I think such persons should be regarded as someone that has a low probability of seeing the brighter future of innovative investment.

Bitcoin has proven several times, not once or twice about its potential for the future and until now, no any sign of it going to fail in the process of achieving that. A Ponzi scheme is totally different from what Bitcoin is and they don’t operate in the same manner, so I don’t expect us to keep arguing blindly with people that can’t foresee the reality of this investment.

[Ryu_Ar1]

Read about it from this news: https://www.coindesk.com/business/2026/03/14/boris-johnson-calling-bitcoin-a-ponzi-draws-rebuttal-from-michael-saylor-and-others

I am very disappointed that a whole former UK Prime Minister does not actually know what ponzi schemes are. Or probably he does not know what bitcoin is. But at least he should know that there is nothing hidden about bitcoin investment like Ponzi scheme.

What to expect from the statements of some people who have vested interests in it?

We know that until now some of them clearly know that what bitcoin is doing is good in terms of progress but because they have an interest in opposing bitcoin then even though the statement seems stupid but they will remain confident in what they say because they know that even if it won't make a big effect on bitcoin but the odd grapevine he does it will make the sensation come alive and see how some pro-bitcoin billionaires react including Saylor and this is what they want because with the sensational jolt they do it can make some pro-bitcoins become as if they are strongly opposed to what they say.

Even seeing from what he believes with this ponzi scheme, before he makes a statement he should know why bitcoin which he believes is a ponzi scheme still survives even for 16 years now and the government cannot stop it.

[uneng]

Boris Johnson uses as argument a story involving a man who lost 500 Euros to a man who promised to double his money through Bitcoin. However, the man didn't lose the money because he invested in Bitcoin. The man lost money because he was lured by a scammer to give him money...

Then you can see how the politician mixes two different matters: Bitcoin investment and a real scam scheme which used Bitcoin on their propaganda to attract attention from potential victims.

[macson]

I didn't know this messy-haired guy was interested in Bitcoin. But these days, so many people love to comment on Bitcoin. Whatever they say is their right, but whatever they say has long been debunked.

If he says Bitcoin is a Ponzi scheme, people before him have said the same thing, but until now, their logic hasn't held up. So what he says is nothing more or less than bullshit.

[Patikno]

Read about it from this news: https://www.coindesk.com/business/2026/03/14/boris-johnson-calling-bitcoin-a-ponzi-draws-rebuttal-from-michael-saylor-and-others

I am very disappointed that a whole former UK Prime Minister does not actually know what ponzi schemes are. Or probably he does not know what bitcoin is. But at least he should know that there is nothing hidden about bitcoin investment like Ponzi scheme.

In a ponzi scheme, investors money are used to pay earlier investors with the scheme not generating profit from any business, but the business owners will tell their investors that they are generating profit from a business which is a lie. Later the business can not go on and collapse.

Bitcoin is not like this, nothing hidden, no business but just a coin that has a store of value. Bitcoin has been existing since more than 16 years, many people have profited from it and it is still a store of value.

His understanding about Ponzi schemes is already flawed, let alone his understanding of Bitcoin; it is clear he has many flaws. So, don't be disappointed, and don't be surprised that those who denigrate Bitcoin are usually those who don't understand it. If he were willing to read more about Bitcoin, or read the Bitcoin whitepaper, I am sure he would change his understanding of Bitcoin 180 degrees.

He said, he has been suspicious of Bitcoin for a long time, but why didn't he also study it extensively? It is okay for someone like him to be skeptical of Bitcoin at the beginning, but it shouldn't just be an assumption, it is also needs to be proven about his suspicions, and should be investigated further to avoid misunderstandings like his, which was a fatal mistake regarding his very wrong argument.

[Marykeller]

Not every influential person you know on earth, can different what Bitcoin is, with that of a business. They sees Bitcoin as one of those business that will soon die, not to continue to exist. They don't know that Bitcoin has come to stay, and it is not one of those business, neither is it a business though that reign for sometime and die off because of no investors and continue marketing.

Well, it is the lack of knowledge of Bitcoin, and acceptance of Bitcoin is a digital money that is making some of these influential person to see and say that truth that Bitcoin is a life changing assets for the future.

[PrivacyG]

Can we finally stop giving Politicians who are over 60 years old attention when they say some thing about Bitcoin or any other new technology really?  These people are from another generation and clearly do not even understand what they are talking about.  I have surprisingly seen way more non Politicians being more aware of what Bitcoin is than Politicians.  It is crazy how smart they think they are talking about subjects they do not own any knowledge of.

[Z-tight]

BTC has been called a lot of things in its ~ 17 years of existence, surely, been called a ponzi scheme or pyramid scheme wouldn't hurt, would it, lol. I like to believe Mr Boris knows he is wrong, he shouldn't be so stupid as not to understand what a ponzi scheme is and what BTC actually is.

Sometimes when we talk about things like this here, we even give it more attention. In the early days we had to dispute that BTC was not a bubble, right now we do not need to dispute anything about BTC.

[Furious 7]

This condition is a natural thing for those who have the background behind it and this is just one of the big names of the many people who have power and positions in government who say this is a scam.

One of the dumb arguments I reard ever, is that he asks what he considers as a rhetorical question about why people should trust a system created by a pseudonymous entity named Satoshi Nakamoto without an institutional backing. His centralization based mindset can realize that concepts can be trusted based on efficiency regardless of whom the inventor behind, denying the fact about all the instituations that recognized bitcoin over the last 16 years including instituations and academic universities in his country which he is its prime minister.

If we look at his article when he claims that bitcoin is a ponzi scheme it is based on a scam that happened by one of the people who actually misrepresented that this became a ponzi scheme by himself.
Even though this is the fault of the user who doesn't even realize that he was deceived by someone else because he trusted that person too much and this is not bitcoin's fault so the reasoning becomes illogical to me.  If the object is changed to fiat or gold (as an example) and there are people who are deceived by what they believe to double their money, will gold and fiat be used as a ponzi scheme too? Of course he would not dare to say that but because the object is bitcoin then he is brave enough to make claims as if what he said made sense.

This is also a lesson for bitcoiners not to trust too much with others just because the pretext can double profits because if we think more logically it will be ridiculous when someone dares to guarantee to double the money they have even using the name bitcoin as the object.

[Mate2237]

You don't have to be disappointed; anyone who hates Bitcoin, their ignorance will never allow them to see the difference, or they actually know that Bitcoin is not a Ponzi, but they will still have to criticize it in public. Just like we have Peter Schiff, someone as exposed as himself and with access to information, still publicly calling Bitcoin out and regarding it as a worthless asset, you don't have to be surprised by how they define Bitcoin.

You are right at this point in time there is no need to be disappointed by anyone who disapproves of Bitcoin, and call it a ponzi scheme. Anyone who is calling Bitcoin a Ponzi scheme may not be too aware of what Bitcoin is all about. To put the records straight bitcoin is not a Ponzi scheme were you put money inside today and tomorrow you are expecting double the amount of money that, was put into it. Bitcoin doesn't promise quick wealth but only build wealth progressively.


The likes of Boris Johnson is clear that from the beginning has not been a fan of Bitcoin, and that was clear and made manifest during his time as British prime minister, at this point Bitcoin has even gained a wider audience than before so no matter his stand on Bitcoin I don't see it changing anything about what Bitcoin is today.

[Felicity_Tide]

I am very disappointed that a whole former UK Prime Minister does not actually know what ponzi schemes are. Or probably he does not know what bitcoin is.

Disappointed?... What disappointment?.
The last thing you would want to do, is to listen to the opinion of certain people that probably doesn't have an idea about something. How well did he even performed as the UK prime minister, that makes his statement/opinion still relevant today?. Calling something that has been in existence since he was the mayor of London - a Ponzi scheme, is quite funny. Well, maybe he just wants to be on the news. Moreover, everyone is entitled to their own opinion even though it doesn't add any value.

[Hamza2424]

In a ponzi scheme, investors money are used to pay earlier investors with the scheme not generating profit from any business, but the business owners will tell their investors that they are generating profit from a business which is a lie. Later the business can not go on and collapse.

Bitcoin is not like this, nothing hidden, no business but just a coin that has a store of value. Bitcoin has been existing since more than 16 years, many people have profited from it and it is still a store of value.

He must have lost a lot of money in this dump, that's why he is saying it is a Ponzi scheme haha. Seriously, this is really a funny and serious statement because not someone random has made it, but the prime minister of the UK has made it. So he must know something, he can't be that dumb. I am not saying he is right.

But what knowledge does he have that he said something like this? You have already explained both and how BTC is not a Ponzi scheme, but the PM has used only one similarity: that just like in Ponzi schemes, early investors of Bitcoin are making the most while the ones who are late joiners are losing. While that's not the complete truth. He definitely got some wrong knowledge.

[AmoreJaz]

Can we finally stop giving Politicians who are over 60 years old attention when they say some thing about Bitcoin or any other new technology really?  These people are from another generation and clearly do not even understand what they are talking about.  I have surprisingly seen way more non Politicians being more aware of what Bitcoin is than Politicians.  It is crazy how smart they think they are talking about subjects they do not own any knowledge of.

Let them talk what they want to say. People already know the truth about this market. And they can always check over the net and consult with valid sources. This generation is different because all the info is already available. So even if someone will talk negative  towards this market, it is useless already. We are not dumb to just listen what they say because we have our own perspectives in life.

[ThemePen]

This comment is really wrong since, in a Ponzi scheme, there is leader who lies about money made and it is secret, while Bitcoin is an open system, and anyone can see transactions. I would say that there is no boss of Bitcoin to hide money away and code is open to all to look at so it can not be called a scam.
Long history of Bitcoin and its ability to handle big price drops is true, as this is show of lasting safe place for money, unlike scams that usually become nothing after short time. My own answer is that people are sad when leaders fail to understand tech, but in fact such political attacks help people to learn truth that spread out more safe than the promise that middle group has made. So Bitcoin has become very big money tool in world stage which is taken seriously as investment by groups and large companies.

[coupable]

This condition is a natural thing for those who have the background behind it and this is just one of the big names of the many people who have power and positions in government who say this is a scam.

One of the dumb arguments I reard ever, is that he asks what he considers as a rhetorical question about why people should trust a system created by a pseudonymous entity named Satoshi Nakamoto without an institutional backing. His centralization based mindset can realize that concepts can be trusted based on efficiency regardless of whom the inventor behind, denying the fact about all the instituations that recognized bitcoin over the last 16 years including instituations and academic universities in his country which he is its prime minister.

If we look at his article when he claims that bitcoin is a ponzi scheme it is based on a scam that happened by one of the people who actually misrepresented that this became a ponzi scheme by himself.
Even though this is the fault of the user who doesn't even realize that he was deceived by someone else because he trusted that person too much and this is not bitcoin's fault so the reasoning becomes illogical to me.  If the object is changed to fiat or gold (as an example) and there are people who are deceived by what they believe to double their money, will gold and fiat be used as a ponzi scheme too? Of course he would not dare to say that but because the object is bitcoin then he is brave enough to make claims as if what he said made sense.

When it comes from a public figure like the formal prime minister of the the empire on which the sun never sets, the voice will be heard with a loud echo. Those ridiculous claims can easiy find their way to the large of population which is still discovering about bitcoin, that can justify the hesitation of the government to adopt the new technology that recognize crypto assets. Despite his view point is ridiculous, we can't neglected its influence among ordinary people who believe in the credibility of their leaders opinions. Wait for the next period and see that nobody will reply to what he said from a politician or even in public media. This is what we might call "fighting against bitcoin as threat to supreme powers".