Boris Johnson calls Bitcoin a Ponzi scheme

Former prime minister of Britain, Boris Johnson, is calling Bitcoin a Ponzi scheme on a post on X. Unfortunately, he was quickly ratioed by X users by pointing out Ponzi schemes have a centralized issuer and promise high returns with low risk, none of which are true about bitcoin. 

Bitcoin has no issuer or promoter. There are no guaranteed returns as well. 

Calling Bitcoin a Ponzi is like calling the internet a pyramid scheme because websites gain users over time. A Ponzi has a central operator and promised returns. Bitcoin has neither; just mathematics, code, and a monetary policy that can’t be rewritten by politicians. We will chat about this over lunch next week and I’ll have you converted in no time at all. 

Problem is Boris thinks politicians should be able to tax through inflation because he loves cronisum only possible in socialist states. Which G7 country’s monetary policy does Bitcoin play a part? No economy’s central bank uses it, pegs its currency to it, or bases any macro policy decisions on it. This why his nonsensical growth budget in high inflation blew up the markets and the Tories got decimated.