$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP 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. 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.

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.

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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