A former prime minister, a billionaire, and a regular investor who lost everything came together this week during a very intriguing news cycle, and what came after may alter how you view Bitcoin forever. That isn't a joke. That is exactly what happened this week when Michael Saylor, who had placed his company's entire bet on Bitcoin fired back at Boris Johnson's insane statement regarding Bitcoin being simply a "Ponzi scheme." In addition to this, there was a very quiet story noted under the headlines about a regular person losing £20,000. Let us take a deeper look at both sides of the issue. Because the more accurate information resides in the median of both claims and is also important for your money.<h1>Johnson Lit the Fuse</h1>Former prime minister of the United Kingdom, Boris Johnson, called Bitcoin a "Ponzi scheme" during a recent interview. While this is exactly the type of statement you would expect from an individual of his type to create a panic sell at mid-night, it is also an extremely damaging thing to say when you have the platform that he does. Millions of people pay attention to the statements made by leaders of large economies. As such, his comments regarding the legitimacy of crypto currencies added further anxiety to everyday investors in the UK who are already anxious about the recent crypto downturn. What Mr. Johnson did not provide is a basis for his position regarding Bitcoin and the crypto market. There was no technical analysis, no data, no on-chain metrics or values, just a label. Mr. Johnson's comments are indicative of the fact that there is still no consensus in the market regarding Bitcoin after more than a decade of debate by regulators, economists and tech experts. This is where Saylor's voice came into play, and Saylor did not hold back either.<h1>Saylor's Rebuttal Was Surgical</h1>Michael Saylor, Executive Chairman of MicroStrategy (which owns over 214,000 BTC worth billions), has said that Johnson's claim is fundamentally clueless about how Bitcoin works. He made his argument by discussing three key points:1. There is no central operator for Bitcoin. A Ponzi scheme has someone "in charge" at the top, who uses the money of new investors to pay off the old ones. Bitcoin runs on a decentralized network, so there's no CEO, no board of directors, and no one pulling the strings behind the scenes.2. The ledger is public. Every transaction ever made is in a publicly accessible blockchain, and anyone can audit it. Ponzi schemes rely on being secretive, while Bitcoin has radical transparency built into its code.3. The fact that Bitcoin has survived for 14 years speaks for itself. Bitcoin has survived crashes, bans, regulatory crackdowns and the collapse of numerous exchanges. It continues to come back. Ponzi schemes collapse. Bitcoin continues to evolve. Saylor's experience gives weight to what he says. He has personally put billions of dollars on the line based on this belief. Regardless of how you feel about him, Saylor has skin in the game, while Johnson does not.<h1>The £20K Loss That Tells the Real Story</h1>The incident of a UK-based investor who lost £20,000 on bitcoin provides further evidence that bitcoin is not a scam; rather, it demonstrates that sound risk management is critical in trading and investing. The investor's experience is highly relatable: they purchased bitcoin close to its peak driven by hype, did not have a stop-loss, and held through a brutal decline believing a rebound would occur shortly. Unfortunately, they sold at the bottom and were devastated. The following three lessons can be learned from this investor’s experience:1. Don't invest more than you can afford to lose (e.g., rent, groceries, etc.). Bitcoin is an extremely volatile asset class.2. Always establish an exit strategy prior to entering a trade; you will be able to think clearly regarding your exit plan when your emotions are in check.3. Do not listen to the media from extreme viewpoints; e.g., Saylor will always be bullish and politicians will always make headlines, therefore your financial plan should not rely on either source of information.<h1>So Who's Right?</h1>Both are kind of right and wrong at the same time. Johnson is correct about hurting others and how real the £20,000 loss is, and that these people hurt is for real and to disregard those types of stories is irresponsible. Saylor is also correct because the assertion that Bitcoin is a Ponzi scheme is not only technically incorrect but also mentally lazy because the technology does not meet the definition of a Ponzi scheme regardless of how many times the critics repeat that assertion. The billionaire, the Prime Minister, and the everyday investor are all part of the same Bitcoin universe but experience it in entirely different ways.<h1>What This Means for You</h1>When choosing between Team Saylor and Team Johnson, you should actually choose to be on Team You. Before investing in cryptocurrency, research everything you want to invest in. Create limits for yourself, then treat cryptocurrencies as they are intended to be treated, which is as a high-risk/high-reward investment option that will be rewarded for being patient and can be punishing when you have an emotional response. The intention for this message and story is to encourage you to reflect on your current method of investing, so if you have done so you have achieved the purpose of this writing. After reflecting on your investment philosophy, go back and look at your portfolio with new glasses and have a clearly written investment plan in the event of a market downturn. Your future self will thank you for taking the time to prepare.

Former prime minister of the United Kingdom, Boris Johnson, called Bitcoin a "Ponzi scheme" during a recent interview. 

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