According to Odaily Odaily, former British Prime Minister Boris Johnson stated in an article that he has long suspected Bitcoin is a "huge Ponzi scheme," and that recent cases of investment losses he has heard about have made him even more concerned that this judgment may be correct.
In his article, Boris Johnson mentions a former businessman he knows who suffered losses of approximately £20,000 from investing in Bitcoin and fell into financial distress. He uses this to question the intrinsic value of Bitcoin, arguing that it is essentially just a string of numbers stored in a computer and lacks the value backing of gold or traditional currencies.
Boris Johnson also pointed out that the value of cryptocurrencies largely depends on the confidence of market participants, and once confidence weakens, their prices can fall rapidly. He further stated that if investor confidence continues to be damaged in the future, the crypto industry may face even greater challenges.
