Former UK PM Boris Johnson says fears of Bitcoin being a Ponzi scheme are coming true

Former UK Prime Minister Boris Johnson stated on his social media that he has long suspected Bitcoin is a giant Ponzi scheme, adding that he is now hearing tragic stories that make him fear he was right. He outlined several issues with Bitcoin, including the absence of a central authority like a central bank, a lack of intrinsic value, its sole reliance on trust, and high costs such as complex fee structures.