Michael Saylor Responds to Former UK Prime Minister Boris Johnson’s Criticism Calling Bitcoin a Ponzi Scheme
By Arthur Gideon — Published March 14, 2026, 11:00 WIB | Liputan6.com, Jakarta
Michael Saylor, prominent cryptocurrency advocate and Executive Chairman of MicroStrategy, has issued a firm response to criticisms made by former UK Prime Minister Boris Johnson, who recently branded Bitcoin as akin to a Ponzi scheme and questioned the underlying value of cryptocurrencies.
Boris Johnson’s Critique of Bitcoin
In a series of remarks shared via crypto news outlets, Boris Johnson recounted a cautionary tale involving an acquaintance from his local church. The individual reportedly lost a significant amount of money—£20,000 over three and a half years—after being encouraged to invest in Bitcoin through a third party who promised to multiply the investment. The acquaintance initially handed over around £500 but faced repeated requests for additional fees with the hope of recovering the investment, which ultimately never materialized.
Using this story as a warning, Johnson expressed skepticism about the intrinsic value of cryptocurrencies compared to traditional assets. “I can see the intrinsic value of gold. I even understand why Pokemon cards hold their value,” Johnson wrote. “But Bitcoin? What exactly is it? Merely a string of numbers stored on a network of computers.”
He further questioned the mysterious origins of Bitcoin’s anonymous creator, Satoshi Nakamoto, stressing that the entire cryptocurrency system relies heavily on collective trust among its holders. Johnson warned that fraudulent schemes exploiting crypto investments risk undermining public confidence in the sector, adding:
“From the beginning, I have been suspicious that all cryptocurrencies are essentially Ponzi schemes.” He argued that the crypto ecosystem depends on a continuous influx of new investors to sustain itself.
Michael Saylor’s Rebuttal
Responding on the social media platform X (formerly Twitter), Michael Saylor strongly rejected Johnson’s claims:
“Bitcoin is not a Ponzi scheme,” Saylor declared.
He clarified the fundamental difference between Bitcoin and such fraudulent schemes, explaining that Ponzi schemes require a central operator promising returns paid from new investors’ funds. In contrast, Bitcoin lacks any central issuer, promoter, or guarantees of profit. Instead, it operates as an open, decentralized monetary network driven by code and market demand.
Saylor emphasized:
“Bitcoin has no issuer, no promoter, and promises no returns. It is simply an open, decentralized monetary network powered by code and market forces.”
The Broader Debate Around Bitcoin’s Value
Boris Johnson’s comments reignited a broader debate on monetary systems and the legitimacy of cryptocurrencies. Johnson referenced historical currency models, such as Roman coins bearing emperors’ images symbolizing government-backed trust, as a contrast to decentralized digital assets.
Supporters of cryptocurrency like Saylor argue that Bitcoin’s decentralized design is its greatest strength, making it resilient against political interference and inflationary pressures associated with government monetary policies.
Michael Saylor himself is among the most vocal corporate advocates for Bitcoin, with his company MicroStrategy holding billions of dollars in Bitcoin on its balance sheet as part of a long-term investment strategy.
Conclusion
The exchange between Johnson and Saylor reflects ongoing tensions in public discourse about the nature and future of cryptocurrency. While critics remain wary of risks and the speculative aspects of digital assets, advocates highlight technological innovation and alternative monetary models as transformative for global finance.
As the cryptocurrency landscape continues to evolve, discussions like these underscore the importance of informed perspectives on investment risks, regulatory frameworks, and the potential role of digital currencies in the modern economy.
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Photo caption: Michael Saylor at a Bitcoin conference, Miami Beach, Florida, April 7, 2022. (AP Photo/Rebecca Blackwell)
Photo caption: Former UK Prime Minister Boris Johnson during a statement at Downing Street, London, April 27, 2020. (AP Photo/Frank Augstein)
Tags: #Bitcoin #Cryptocurrency #MichaelSaylor #BorisJohnson #CryptoDebate #PonziScheme #DigitalAssets #MicroStrategy