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$106K Bitcoin A âSaferâ Buy Than $25KâXRP Lawyer Drops Bombshell
A well-known cryptocurrency attorney and XRP advocate, John Deaton, is urging investors to stay bullish on Bitcoin even as it hovers near $106,000. Heâs put about 80% of his net worth into BTC at an average price below $25,000. Rather than fret over todayâs high sticker, he says the odds favor more gains ahead than losses. Related Reading: Blank Pi Network Wallets Spark OutcryâWhatâs The Network Hiding? Deatonâs Big Bet According to Deaton, buying at six figures isnât too late. He calls todayâs price range âmore asymmetrical,â meaning the upside is greater than the downside. Heâs put 80% of his wealth into Bitcoin. His average entry cost was less than $25,000. Still, he sees room to run even from around $106,000. Macro Concerns Drive Interest Based on reports, Deaton worries about soaring national debt in the US and fresh tariffs from US President Donald Trumpâs time in office. He flags endless money printing by central banks as a red flag. Iâm not in favor of telling people living paycheck to paycheck (me until 15 years ago) to take out a mortgage on their primary home to buy Bitcoin (Iâm not suggesting that thatâs what David is recommending either), but I am in the process of selling real estate, and although my⊠https://t.co/JMB1zgeazW â John E Deaton (@JohnEDeaton1) June 8, 2025 He says all these moves are chipping away at trust in fiat cash. With only 21 million BTC ever to be mined, Bitcoin canât be inflated away. That fixed supply, he argues, makes it a solid hedge against a shaky dollar. Corporate And State Adoption Institutional demand is also on the rise. MicroStrategyânow called Strategyâholds more than 200,000 BTC, worth tens of billions of dollars. And in the last seven days, 16 companies have added Bitcoin to their balance sheets. On the government side, Rep. Tim Burchett introduced a bill to turn a Trump executive order into law, creating a US Strategic Bitcoin Reserve. Countries like Pakistan, Ukraine, and Ireland are weighing similar steps. They want to see if holding Bitcoin could protect their foreign exchange plans. Skeptics Voice Worries Not everyone agrees with Deatonâs rosy outlook. Economist Peter Schiff, a gold advocate, says Bitcoin has no real value and is too wild to be a safe haven. He tweeted that todayâs rally is just hype. Deaton doesnât shy away from such criticism. He admits he has âconfirmation and wealth-preservation bias.â He still insists Bitcoin is the best store of value during todayâs economic storms. Related Reading: Elon Musk âWill Do Anythingâ To Make XRP King, Tech Mogul Says Deaton warns against buying with money you canât afford to lose. He tells people living paycheck-to-paycheck not to risk their homes or take out loans just to buy crypto. His basic message is simple: look past daily price swings and ask where the worldâs money is headed. If you share his concerns about the dollar and believe institutions will keep piling in, his bet on Bitcoin could pay off. But anyone on the sidelines should be ready for big swings and should only invest what they can handle. Featured image from Pexels, chart from TradingView
$106K Bitcoin A âSaferâ Buy Than $25KâXRP Lawyer Drops Bombshell
A well-known cryptocurrency attorney and XRP advocate, John Deaton, is urging investors to stay bullish on Bitcoin even as it hovers near $106,000. Heâs put about 80% of his net worth into BTC at an average price below $25,000. Rather than fret over todayâs high sticker, he says the odds favor more gains ahead than losses. Related Reading: Blank Pi Network Wallets Spark OutcryâWhatâs The Network Hiding? Deatonâs Big Bet According to Deaton, buying at six figures isnât too late. He calls todayâs price range âmore asymmetrical,â meaning the upside is greater than the downside. Heâs put 80% of his wealth into Bitcoin. His average entry cost was less than $25,000. Still, he sees room to run even from around $106,000. Macro Concerns Drive Interest Based on reports, Deaton worries about soaring national debt in the US and fresh tariffs from US President Donald Trumpâs time in office. He flags endless money printing by central banks as a red flag. Iâm not in favor of telling people living paycheck to paycheck (me until 15 years ago) to take out a mortgage on their primary home to buy Bitcoin (Iâm not suggesting that thatâs what David is recommending either), but I am in the process of selling real estate, and although my⊠https://t.co/JMB1zgeazW â John E Deaton (@JohnEDeaton1) June 8, 2025 He says all these moves are chipping away at trust in fiat cash. With only 21 million BTC ever to be mined, Bitcoin canât be inflated away. That fixed supply, he argues, makes it a solid hedge against a shaky dollar. Corporate And State Adoption Institutional demand is also on the rise. MicroStrategyânow called Strategyâholds more than 200,000 BTC, worth tens of billions of dollars. And in the last seven days, 16 companies have added Bitcoin to their balance sheets. On the government side, Rep. Tim Burchett introduced a bill to turn a Trump executive order into law, creating a US Strategic Bitcoin Reserve. Countries like Pakistan, Ukraine, and Ireland are weighing similar steps. They want to see if holding Bitcoin could protect their foreign exchange plans. Skeptics Voice Worries Not everyone agrees with Deatonâs rosy outlook. Economist Peter Schiff, a gold advocate, says Bitcoin has no real value and is too wild to be a safe haven. He tweeted that todayâs rally is just hype. Deaton doesnât shy away from such criticism. He admits he has âconfirmation and wealth-preservation bias.â He still insists Bitcoin is the best store of value during todayâs economic storms. Related Reading: Elon Musk âWill Do Anythingâ To Make XRP King, Tech Mogul Says Deaton warns against buying with money you canât afford to lose. He tells people living paycheck-to-paycheck not to risk their homes or take out loans just to buy crypto. His basic message is simple: look past daily price swings and ask where the worldâs money is headed. If you share his concerns about the dollar and believe institutions will keep piling in, his bet on Bitcoin could pay off. But anyone on the sidelines should be ready for big swings and should only invest what they can handle. Featured image from Pexels, chart from TradingView