Pro-XRP lawyer John Deaton has stated that it’s irresponsible for financial advisors to recommend zero exposure to Bitcoin given the current prices.
A well-known pro-XRP lawyer, John Deaton, has strongly advocated for Bitcoin BTC $94 067 24h volatility: 1.3% Market cap: $1.87 T Vol. 24h: $28.06 B exposure despite his long standing support for Ripple XRP $2.20 24h volatility: 4.3% Market cap: $128.29 B Vol. 24h: $3.52 B .
In a post on X, he stated that regardless of one’s stance on Bitcoin–whether as a maximalist, a skeptic, or a critic–it is nearly irresponsible for financial advisors to recommend zero exposure to BTC at its current price levels around $84,000.
Institutional Adoption and Government Influence
One of the key points raised by Deaton revolves around the increasing institutional embrace of Bitcoin. He gave several examples of major institutions’ exposure to BTC.
Cantor Fitzgerald, a major financial services firm, recently launched Bitcoin-backed lending for institutions, reinforcing the growing mainstream financial integration of BTC.
Deaton noted that Howard Lutnick, who owns Cantor Fitzgerald and now serves as the US Commerce Secretary, is known for holding tens of millions of dollars in Bitcoin, believing it will eventually be worth billions.
The US government has adopted a strategic approach to BTC accumulation. President Donald Trump issued an executive order directing officials to acquire Bitcoin through budget-neutral means.
The US Treasury Secretary, Scott Bessent, also holds substantial Bitcoin holdings and believes in its long-term value.
Tether, which is among the largest holders of US Treasuries, is indirectly linked to Bitcoin accumulation strategies through its financial networks.
Moreover, BlackRock’s Larry Fink has publicly stated that Bitcoin belongs in every investor’s portfolio, further validating its status as a legitimate asset class, Deaton highlighted.
Budget-Neutral Bitcoin Accumulation Strategies
The pro-XRP lawyer also proposed innovative strategies for the US government to acquire Bitcoin without direct taxpayer burden.
These include seizing Bitcoin from criminal activities, requiring US-based miners to contribute a portion of newly mined BTC as royalties in exchange for tax incentives, and allowing federal tax and fee payments in Bitcoin while retaining a portion in reserves.
The government could also swap gold reserves for BTC, tokenize US Treasury bonds for Bitcoin-based purchases, and incentivize partnerships with major financial and tech firms like Coinbase and Ripple.
Other approaches shared by Deaton include accepting BTC payments for federal land and energy leases, imposing Bitcoin-based tariffs on strategic imports, and issuing BTC-backed government bonds similar to El Salvador’s Bitcoin strategy.
Ascending Triangle and Potential Breakout
Meanwhile, crypto analyst Ali Martinez has pointed out Bitcoin’s price action forming an ascending triangle, a bullish technical pattern that often precedes a breakout.
If BTC successfully breaks above the upper resistance, it could see a price increase of approximately 9%.
To calculate the target of this pattern, analysts use the height of the triangle’s base and add it to the breakout point.
In this case, if the ascending triangle’s height measures around $7,280 (as indicated in the chart), a breakout from $84,000 could push BTC toward $91,280, assuming bullish momentum follows through.
next