XRP Lawyer Says Buying Bitcoin at $106K Carries More Upside Than at $25K

Highlights:

• John Deaton sees current Bitcoin prices offering greater potential gains than $25K levels.
• Deaton warns paycheck-to-paycheck investors against risking homes but supports Bitcoin’s value.
• Institutions and countries increasingly adopt Bitcoin, boosting its credibility and political support.

Pro-XRP lawyer John Deaton believes purchasing Bitcoin (BTC) at its current price carries more potential for gains than it did at $25K. He expressed this view in a recent post on X, responding to Bitcoin Magazine CEO David Bailey, who urged investors to raise capital and allocate it toward buying the leading cryptocurrency.

Deaton supported Bailey’s message but warned that those living paycheck-to-paycheck should avoid risking their homes or taking loans to invest in crypto. Still, he firmly believes BTC remains one of the strongest stores of value available today. Deaton believes today’s growing institutional involvement, macroeconomic landscape, and shifting political climate make Bitcoin a more appealing and “asymmetrical” investment than in the past.

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 Backs BTC as Safe Haven Amid Economic Uncertainty

Deaton’s concerns stem from broader issues surrounding the global economic outlook. He pointed to soaring U.S. debt, the revival of Trump-era tariffs, and continuous central bank money printing as alarming indicators. According to him, these trends are steadily eroding trust in traditional fiat currencies. To Deaton, Bitcoin offers the solution. Its decentralized nature, fixed supply of 21 million coins, and resistance to government control or endless printing make it unique.

Pro-XRP lawyer revealed that he has allocated 80% of his net worth to Bitcoin, with an average buy-in below $25,000. Despite Bitcoin now trading in six figures, he doesn’t believe it’s too late to invest. In his view, current prices still offer strong “asymmetrical” potential—suggesting the likelihood of gains outweighs the risk of losses, even at higher valuations. Deaton pointed to rising government interest in crypto, referencing the proposed GENIUS Act and Trump’s pro-crypto “Big Beautiful Bill” as clear signals of growing political backing. 

Growing Institutional and Government Adoption Boosts Bitcoin’s Credibility

Deaton noted that major institutions—and even entire nations—are getting involved. One standout example is Strategy, previously known as MicroStrategy, which has become a major player in the Bitcoin space. The firm has gained attention for its bold accumulation strategy, now holding over 200,000 BTC—worth tens of billions—and continuing to increase its stash weekly. In just the past week, 16 more companies have joined the growing number of businesses adding Bitcoin to their balance sheets.

Representative Tim Burchett has proposed new legislation aimed at turning Donald Trump’s executive order on creating a Strategic Bitcoin Reserve into official law. Meanwhile, several countries—such as Pakistan, Ukraine, and Ireland—are actively considering the idea of establishing their own national Bitcoin reserves.

Not everyone shares Deaton’s optimism, even as interest in Bitcoin grows. Dr. Peter Schiff, an economist and gold advocate, criticized BTC on X. He called its rise hype, saying it lacks real value and is too unstable.

If gold is the past and Bitcoin is the future, why are foreign central banks that are preparing for a future where the U.S. dollar is no longer the reserve currency, replacing their dollar reserves with gold and not Bitcoin?

— Peter Schiff (@PeterSchiff) May 24, 2025