TL;DR:
- Harsh criticism: Former British Prime Minister, Boris Johnson, labeled Bitcoin a “giant Ponzi scheme” based solely on collective belief.
- Technical response: Michael Saylor clarified that a Ponzi requires a central operator and guaranteed returns, elements that do not exist in BTC’s decentralized network.
- Corporate exposure: Saylor’s defense occurs as MicroStrategy holds 738,731 BTC, representing approximately 3.52% of the total supply.
Again Bitcoin is the center of an intense political debate, following the incendiary declarations of Boris Johnson. It all started with the former President’s declarations in the Daily Mail, where he criticized Bitcoin, labeling it a “giant Ponzi scheme,” furthermore saying that the crypto sector lacks intrinsic value and depends on a constant flow of new investors, comparing it to historical fraudulent systems.
Johnson based his position on a personal anecdote about a citizen who lost approximately 20,000 pounds after a failed investment started in a pub. From a technical perspective, Johnson questioned the lack of institutional authority behind the asset, contrasting it with fiat currencies that, historically, derive their value from government backing and State power.
Saylor’s response and the nature of the code
Michael Saylor, president of Strategy and one of the biggest defenders of the pioneering crypto, did not take long to respond through the X platform. Saylor emphasized that Bitcoin has no issuer or promoter, radically differentiating it from a Ponzi scheme. He explained that the system is an open monetary network powered by code and market demand, without yield promises by a centralized entity.
Despite Johnson’s warnings about the possible “melting of trust” of investors, the institutional market seems to ignore the political pessimism. With companies like Strategy increasing their treasury aggressively in this 2026, the dispute between the old political guard and digital maximalists highlights the ideological gap over what constitutes “real money.”
In summary, while Johnsonwarns about the imminent collapse of the industry given the lack of a central authority, Saylor reaffirms that it is precisely that decentralization and the immutability of the code that grants Bitcoin its value in the modern era.