Renowned attorney John E. Deaton, notable for his role in the Ripple vs. SEC case, has disclosed unexpected details about his cryptocurrency investments.
Deaton's Cryptocurrency Portfolio Revelation
In a candid statement, Deaton clarified his investment stance, revealing a preference for Bitcoin (BTC) and Ethereum (ETH) over his well-known support for XRP.
Investment Discrepancies Unveiled
Contrary to misconceptions, Deaton affirmed that he wasn't merely an aggrieved investor suing the SEC for personal losses. He explained, "I owned 10X more in BTC and 4X more in ETH than I did XRP – even though I highlighted the ETH regulatory free pass."
Strategic XRP Investments
Deaton shared insights into his investment strategy, disclosing that XRP was initially his smallest investment. However, he increased his XRP holdings post the SEC lawsuit, expressing confidence in a favorable outcome. He asserted, "It was like betting on myself and betting the judge would follow the law."
Broader Implications for the Crypto Industry
The attorney's involvement in the Ripple case extends beyond personal investment concerns. Deaton believes Ethereum received a "free pass" from the SEC through corruption, emphasizing the broader implications for the crypto industry.
Deaton's Legal Stand
Highlighting his frustration with the SEC's allegations, Deaton pointed out the absurdity of their claims and clarified his unwavering commitment to Bitcoin and Ethereum.
Diverse Investment Strategy
Despite challenges, Deaton's investment strategy remains diverse, with a continued preference for Bitcoin and Ethereum. He noted, "For the record, I still own 10X more in Bitcoin than XRP."
Optimism Amidst Market Challenges
Concluding on a positive note, Deaton commended crypto holders for enduring market challenges and expressed optimism for the future, especially as Bitcoin recently surged past the $40,000 mark.