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Boris Johnson Calls Bitcoin "Giant Ponzi Scheme"; Michael Saylor Rebuts

Former UK Prime Minister Boris Johnson said on X that he has long suspected Bitcoin is a giant Ponzi scheme and is now hearing tales of woe that confirm his view. Industry figures pushed back, with Michael Saylor stating Bitcoin is not a Ponzi scheme because such schemes require a central operator pledging returns and paying earlier participants with funds from later ones. Saylor added that Bitcoin has no issuer, no promoter and no guaranteed return, describing it as an open, decentralized monetary network driven by code and market demand.
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