Ex-PM Boris Johnson attacks Bitcoin; Michael Saylor and crypto leaders push back over supply and market size

Former UK prime minister Boris Johnson wrote in a March 13 Daily Mail opinion column that Bitcoin is a “Ponzi scheme,” a claim reported by multiple crypto outlets ^{[1] [2] [3]}.

MicroStrategy founder Michael Saylor publicly rejected Johnson’s characterization, arguing Bitcoin lacks a central operator—a key element of traditional Ponzi schemes—and fired back in responses covered by crypto press ^{[4] [1]}.

Social posts cited Bitcoin’s approximate $1.42 trillion market capitalization and roughly $62 billion in daily trading volume, while former Chancellor Kwasi Kwarteng said politicians often misunderstand Bitcoin’s fixed-supply design ^{[1] [4]}.

Johnson’s remarks prompted a swift online backlash and debate between political figures and crypto supporters, with outlets and social posts documenting both the criticism and pushback ^{[1] [4] [2] [3]}.