John Deaton is making a strong case for investors to purchase Bitcoin at current prices, citing a slew of macroeconomic reasons and rising institutional adoption. The XRP lawyer revealed that 80% of his net worth is in the asset, with his cost-average below the $25K mark.
XRP Lawyer Supports Buying Bitcoin At $106K – Here’s Why
Pro-XRP lawyer John Deaton says buying Bitcoin at current prices has more favorable upsides over downsides than a purchase at $25K. Deaton revealed his position in an X post, responding to Bitcoin Magazine CEO David Bailey’s tweet urging investors to acquire capital and use it to purchase the flagship cryptocurrency.
Deaton argues that he is against individuals living paycheck-to-paycheck taking a mortgage on their home to buy Bitcoin. However, given the current economic climate, the pro-XRP lawyer says buying Bitcoin at $106K is a safer bet than buying at $20K.
I’m 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 (I’m not suggesting that that’s what David is recommending either), but I am in the process of selling real estate, and although my… https://t.co/JMB1zgeazW
— John E Deaton (@JohnEDeaton1) June 8, 2025
Deaton is hinging his argument on a raft of macroeconomic challenges, including Trump tariffs, rising debt, and the potential collapse of fiat from excessive money printing. The combination of these global economic issues is making Bitcoin an attractive investment option for a broad spectrum of investors.
Furthermore, the XRP lawyer points to a changing government stance toward cryptocurrencies as another upside to invest at current prices. He cites the incoming GENIUS Act and Trump’s Big Beautiful Bill as reasons for investors to turn to the asset.
“Simply put, buying Bitcoin at $106K is more asymmetrical than it was at $25K,” said Deaton. “But I’ll fully admit I suffer from both confirmation and wealth-preservation bias.”
Institutional And Nation-State Adoption Heightens Investment Allure
John Deaton adds that the influx of corporations adding Bitcoin to their balance sheets is reducing the risk of buying the flagship cryptocurrencies at current prices. Strategy (formerly MicroStrategy) is leading the charge with massive weekly purchases, triggering a domino reaction in the ecosystem.
16 companies have added Bitcoin to their balance sheets in the last week in a frenetic race to stack up the asset. Outside of corporations, nation-states are wading into the space via Strategic Bitcoin Reserves to hold the flagship cryptocurrency.
Rep Tim Burchett has introduced a bill to convert Donald Trump’s executive order for a Strategic Bitcoin Reserve into law. Pakistan, Ukraine, and Ireland are among the countries exploring the possibilities of a national Strategic Bitcoin Reserve.
John Deaton revealed that 80% of his net worth is in Bitcoin, with an average purchase price of $25K. Despite his argument to buy the asset at current prices, critics like Peter Schiff are poking holes in its tag as a safe haven asset.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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