Johnson said that he could understand why gold and Pokémon cards have investment appeal but not Bitcoin, which he characterized as a scam. Boris Johnson, the former prime minister of the United Kingdom, called Bitcoin (BTC) a “Ponzi Scheme” that has less value than Pokémon cards, collectibles he said had a wide appeal and a multi-decade history. Johnson wrote an opinion article published in the Daily Mail on Friday that began with a story about a friend who had given 500 British pounds, or about $661, to a man who promised to “double his money” by investing it in BTC. The friend continued to pay additional “fees” to the scheme’s promoter over the next three and a half years, but was never able to retrieve his funds, despite sinking 20,000 British pounds, or about $26,474, which led to financial hardship, Johnson said. Read more
BTC faces bull trap risks due to the formation of a bear flag pattern, with a measured downside target at around $51,000. Bitcoin (BTC) is on track for its strongest weekly gain since September 2025, defying a broader risk-off backdrop driven by the escalating US and Israel-Iran war. Key takeaways: Strategy raised $776 million this week, which could lead to the purchase of over 11,000 BTC. Read more
Former Coinbase CTO says the crypto industry should build more financial tools for refugees and stateless people as conflicts and migration increase worldwide. Tech investor and former Coinbase chief technology officer Balaji Srinivasan has called on the crypto industry to develop more financial tools for refugees and stateless people. In a Saturday post on X, Srinivasan said the number of displaced individuals could grow as global conflicts intensify and economic migration increases. He pointed to examples ranging from Ukrainians fleeing war to workers leaving the Gulf countries amid regional tensions. “We should build more crypto tools for refugees and stateless people,” Srinivasan wrote, suggesting that blockchain-based systems can provide financial infrastructure when traditional institutions fail or become inaccessible. Read more