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Boris Johnson Says He Has Long Suspected Bitcoin Is a "Giant Ponzi Scheme"

Boris Johnson Says He Has Long Suspected Bitcoin Is a "Giant Ponzi Scheme"

Eric Trump publicly rejected Boris Johnson’s claim on X, adding another high-profile response to Johnson’s criticism of Bitcoin without introducing new evidence about the allegation itself.

BTC

Fact Check
The statement is directly supported by a column written by Boris Johnson himself in the Daily Mail on March 13, 2026. Multiple reputable news outlets (crypto.news, TheStreet, Benzinga) have reported on the column and the subsequent response from Michael Saylor. The quote 'I've long suspected Bitcoin is a giant Ponzi scheme' is the headline of the primary source.
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Summary

Former UK Prime Minister Boris Johnson said on X that he has long suspected Bitcoin is a “giant Ponzi scheme,” citing unspecified “tales of woe” that reinforced his view. Strategy CEO Michael Saylor previously disputed that characterization, saying Bitcoin has no centralized operator, issuer, promoter, or guaranteed returns and describing it as an open decentralized monetary network. The latest update adds Eric Trump’s public disagreement with Johnson on X, but does not include further evidence, examples, or elaboration from either side.

Terms & Concepts
  • Bitcoin: A decentralized digital asset and monetary network that operates without a central authority, using blockchain-based verification.
  • Ponzi scheme: A fraudulent arrangement in which returns are typically paid to earlier participants using money from newer participants rather than legitimate profits.
  • decentralized: A system structure in which control and operation are distributed across a network rather than managed by a single central entity.