Former British Prime Minister Boris Johnson believes that while there is a limited use case for cryptocurrencies, Bitcoin is a ‘giant Ponzi scheme.’ 

Citing his old friend who reportedly lost £20,000 on BTC, Johnson wrote, 

The more elderly people get ripped off – in the name of Bitcoin – the faster that disillusion will set in.

The former PM somewhat agreed with crypto supporters’ strong fixation on ‘decentralization’ to keep BTC away from government devaluation and interference. 

However, he wonders how investors who lose money in crypto, like his friend, can be made whole again if there is no central authority to sue or hold accountable for the damage or hack. 

For him, the anonymous ‘Japanese’ Bitcoin…