$106K Bitcoin A ‘Safer’ Buy Than $25K—XRP Lawyer Drops Bombshell

John Deaton, a well-known cryptocurrency attorney and XRP advocate, is urging investors to remain bullish on Bitcoin despite its current high price of around $106,000. He has invested approximately 80% of his net worth in Bitcoin at an average price below $25,000 and believes the odds favor more gains ahead. Deaton considers the current price range to be asymmetrical, meaning the potential upside is greater than the downside, and he sees room for further growth. His investment strategy is driven by concerns about the soaring national debt in the US and the endless money printing by central banks, which he believes is eroding trust in fiat currency. Deaton argues that Bitcoin's fixed supply of 21 million makes it a solid hedge against a potentially shaky dollar. Institutional demand for Bitcoin is also on the rise, with companies like MicroStrategy holding large amounts of the cryptocurrency and countries like Pakistan, Ukraine, and Ireland considering adding it to their foreign exchange reserves. Not everyone agrees with Deaton's optimistic outlook, with economist Peter Schiff arguing that Bitcoin has no real value and is too volatile to be a safe haven. Deaton acknowledges that he has a confirmation bias but still believes that Bitcoin is the best store of value during current economic uncertainty. He advises investors to look past daily price swings and consider the long-term trends, but also to only invest what they can afford to lose. Deaton's overall message is that investors should be cautious and informed, but also consider the potential benefits of investing in Bitcoin as a hedge against economic instability.