- Portfolio Preferences: John Deaton, involved in the Ripple vs. SEC case, prefers Bitcoin and Ethereum over XRP in his investment portfolio.
- Investment Strategy: Despite his advocacy for XRP, Deaton holds 10 times more Bitcoin and 4 times more Ethereum than XRP, emphasizing a diverse investment approach.
Attorney John E. Deaton, recognized for his role as amicus curiae in the Ripple vs. SEC legal battle, has made a significant disclosure about his personal cryptocurrency investments. Despite being a staunch supporter of XRP, Deaton’s portfolio is more heavily weighted towards Bitcoin (BTC) and Ethereum (ETH).
Diverse Investment Approach
In a transparent admission, Deaton, who has been vocal in the Ripple lawsuit, clarified misconceptions about his investment preferences. Contrary to being a disgruntled XRP investor, Deaton revealed that at the time of the SEC’s lawsuit against Ripple Labs, XRP was his smallest investment, trailing behind BTC and ETH. Even after the lawsuit, he increased his XRP holdings as a form of betting on himself and the expected legal outcome.
Deaton’s investment in Ethereum, despite his criticism of the alleged regulatory “free pass” it received, highlights his broader view on the cryptocurrency landscape. His involvement in the Ripple case extends beyond personal financial interests, focusing on the larger implications for the crypto industry.
A Stance Against SEC Allegations
Expressing frustration with the SEC’s allegations, Deaton emphasized the absurdity and danger of their claims. He underscored his substantial holdings in Bitcoin and Ethereum, stating that even when initiating the lawsuit, he owned ten times more Bitcoin and four times more Ethereum than XRP.
Deaton’s Legal Fight and Investment Philosophy
Deaton clarified that his legal action against the SEC was not solely about personal investment losses but was driven by the broader implications of the SEC’s allegations on the crypto industry. He stated that had the SEC’s allegations been limited to Ripple and its executives, he wouldn’t have pursued legal action. However, the SEC’s broad claim that all XRP holders, including those with no connection to Ripple, held an unregistered security compelled him to sue.
Looking Forward with Optimism
As the cryptocurrency market evolves, Deaton remains optimistic about the future of Bitcoin, Ethereum, and other digital assets, despite the recent turbulent bear market and various industry challenges. His diversified investment approach, with a strong preference for Bitcoin and Ethereum, reflects a strategic and nuanced understanding of the cryptocurrency market.
At present, XRP is trading at $0.6339, and the crypto community closely watches the ongoing developments in the Ripple vs. SEC case, along with the broader market trends influencing investor sentiment.
Connect with Collin Brown on X (Twitter) for valuable market insights, frequent updates, and a touch of humor!