Pro-XRP Lawyer Warns of Fiat Collapse – Moves More Wealth Into Bitcoin Despite All-Time Highs
Pro-Ripple lawyer John E. Deaton tweeted some interesting stuff about accumulating more Bitcoin despite the price at nearly all-time high levels. Known for his outspoken support of XRP holders and deep involvement in crypto legal battles, Deaton surprised many by revealing that he’s currently selling real estate to buy even more Bitcoin. What stood out most wasn’t just the move itself, but the logic behind it – especially coming from someone who already has 80% of his net worth in BTC.
Deaton started by making it clear he isn’t encouraging reckless investing. He specifically said he doesn’t support telling people living paycheck to paycheck to take out loans or mortgages just to buy crypto. He added that he’s speaking from experience, having been in that financial situation himself until 15 years ago. Still, he made it known that despite already being deeply invested in Bitcoin – and with a cost basis under $25,000 – he never imagined himself buying more, especially now that the price has soared past $100,000.
So why is he doing it?
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
According to Deaton, Bitcoin is now a safer buy at $106,000 than it was at $20,000. That’s not a typo. He acknowledges it might sound strange, but he explains it’s not about the price – it’s about the clarity of the macro picture. When Bitcoin was at $20K, its future was full of uncertainty. Today, the path forward seems more obvious to him: governments are drowning in debt, fiat currencies are being debased, and the next wave of institutional and even nation-state adoption is just getting started.
He also mentioned upcoming U.S. legislation like the GENIUS Act and the BBB (Build Back Better) policies, which he believes will further fuel inflation and fiat money printing. In his eyes, all of this leads to one thing: a growing demand for hard, scarce assets like Bitcoin. For Deaton, the writing is on the wall, and he’s positioning himself accordingly.
To be clear, he doesn’t claim this is financial advice. In fact, he openly admits he suffers from confirmation bias and a strong desire to protect his wealth. But for someone with as much skin in the game – and a deep understanding of both law and markets – his views carry weight.
So while some see Bitcoin at all-time highs as a signal to sell or stay away, Deaton sees it as a sign of strength. He’s not chasing hype – he’s responding to a world he believes is running out of financial stability. In that context, buying more Bitcoin isn’t a risk. It’s a hedge against what’s coming.
Read also: Ripple Partners With Web3 Salon to Supercharge XRPL Startups in Japan
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