Why John Deaton Thinks Buying Bitcoin at $106K Still Makes Sense

Crypto lawyer John Deaton is at it again, this time saying to buy Bitcoin at $106,000. He’s known for advocating for XRP...

Written by: Arslan Butt • Monday, June 9, 2025 • 2 min read

• Last updated: Monday, June 9, 2025

Quick overview

Crypto lawyer John Deaton advocates buying Bitcoin at $106,000, emphasizing its potential for wealth preservation amid macroeconomic risks.
He holds 80% of his net worth in Bitcoin, with an average buy-in under $25,000, and believes the risk-reward ratio is currently more favorable.
Upcoming legislation, like the GENIUS Act and proposals for a Strategic Bitcoin Reserve, could enhance Bitcoin's adoption and regulatory clarity.
Recent institutional and national interest in Bitcoin, including 16 companies adding it to their balance sheets, highlights a growing trend towards crypto diversification.

Crypto lawyer John Deaton is at it again, this time saying to buy Bitcoin at $106,000. He’s known for advocating for XRP investors, and recently revealed that 80% of his net worth is in Bitcoin, with an average buy-in under $25,000. But he says the risk-reward is even better today than when prices were much lower.

Why? Macro risks. Deaton points to a cocktail of economic headwinds—tariffs, debt, and fears of fiat devaluation—as reasons to own Bitcoin. “Buying Bitcoin at $106K is more asymmetrical than at $25K,” he says, and he sees it as a necessity for preserving wealth, not just speculation.

Legislation Could Boost Crypto Sentiment

Deaton isn’t counting on price action alone. He cites upcoming legislation as potential catalysts for Bitcoin adoption. The GENIUS Act and Trump’s “Big Beautiful Bill” could redefine how crypto is treated under US law.

Rep. Tim Burchett’s bill to turn Trump’s executive order into law and create a Strategic Bitcoin Reserve is another example. If passed, it would cement Bitcoin’s role in future fiscal policy and would likely get the market behind it.

Key points:

GENIUS Act aims to simplify crypto taxation and compliance
Proposed national reserves suggest state-level crypto trust is building

Institutions and Nations Join the Bitcoin Rush

Deaton’s views are backed up by recent institutional and sovereign adoption. Strategy (formerly MicroStrategy) is leading the charge, and others are following. In the last week alone, 16 companies added Bitcoin to their balance sheets.

Pakistan, Ukraine, and Ireland are also exploring the idea of Strategic Bitcoin Reserves. These moves show national interest in diversifying assets with crypto exposure, especially in uncertain times.

Despite Peter Schiff’s skepticism, Deaton’s thesis is long-term macro: high debt, weak fiat, and political instability means you should own Bitcoin even at all-time highs.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.