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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. He’s put 
about 80% of his net worth into BTC at an average price below $25,000. Rather 
than fret over today’s high sticker, he says the odds favor more gains ahead 
than losses. Related Reading: Blank Pi Network Wallets Spark Outcry—What’s The 
Network Hiding? Deaton’s Big Bet According to Deaton, buying at six figures 
isn’t too late. He calls today’s price range “more asymmetrical,” meaning the 
upside is greater than the downside. He’s 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 Trump’s time in office. He flags endless money printing by 
central banks as a red flag. 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 He says all these moves are chipping away at trust in fiat cash. With 
only 21 million BTC ever to be mined, Bitcoin can’t 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. 
MicroStrategy—now called Strategy—holds 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 
Deaton’s 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 today’s 
rally is just hype. Deaton doesn’t shy away from such criticism. He admits he 
has “confirmation and wealth-preservation bias.” He still insists Bitcoin is 
the best store of value during today’s economic storms. Related Reading: Elon 
Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Deaton warns against 
buying with money you can’t 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 
world’s 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

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