Bundler: How to install version 1 instead of 2 (latest version)

When installing a gem you can use version comparators like >= or ~>. That way it is possible to fetch the latest version of Bundler 1 with this command:

gem install bundler -v '~>1'

How to install bundler for Ruby < 2.3 is a common usecase where you might need Bundler 1.