XRP Lawyer John Deaton Lauds Michael Saylor On Holding Bitcoin

XRP lawyer John Deaton praises MicroStrategy’s CEO Michael Saylor on the prior purchase of Bitcoin. Saylor has strongly supported investing a major portion of MicroStrategy’s capital in Bitcoin, a decision that has elicited both praise and condemnation.

John Deaton On Saylor And MicroStrategy

Deaton acknowledges the polarizing nature of Saylor’s strategy, stating:

Whether you hate him or love him, agree or disagree with his Bitcoin strategy, Saylor must be feeling pretty damn good right now.”

The statement came up as Bitcoin recently crossed $41,000, and huge fans are now looking for $45,000. In November, MicroStrategy purchased nearly $593.3 million in Bitcoin, the company’s largest acquisition over three years.

According to November filling, MicroStrategy added 16,130 BTC to its holdings at an average price of $36,785 per Bitcoin. The total amount of MicroStrategy’s bitcoin holdings is now over $6.5 billion. MicroStrategy has now become the largest institution to accumulate Bitcoin leaving Marathon Digital Holdings behind which holds 13,286 BTC coins.

As Bitcoin jumps above $41K, MicroStrategy (MTSR) stock price also rallied 8% with an increment of $40. Reacting to the same, Deaton alluded that MicroStrategy shareholders must also feel good.

As the cryptocurrency crossed the $40,000 mark and continued its climb, Deaton expressed joy in witnessing the positive vibes within the crypto community.

In another X post signaling towards further Bitcoin pump, Deaton sarcastically said that he would be happier if Michael Saylor would invite him to his $100K party.

Also Read: Breaking: US Space Force Urges Bitcoin Adoption To US DOD, Cathie Wood And & Deaton Reacts

Crypto Market Goes Haywire on Bitcoin Price Jump

The whole crypto space is again ignited by Bitcoin’s recent rally breaking the $41K mark. This rally comes after the recent rumors that spot Bitcoin ETFs will be approved by the SEC soon.

Reacting to the same, John Deaton praised the journey of Bitcoin’s ups and downs in an X post. He mentioned all the crypto downturns from 2022 to 2023. Congratulating everyone he stated:

Congrats to everyone who held during a brutal bear market that saw FTX, Celsius, BlockFi, Voyager, 3AC, the SECGov, etc.

Recently, John Deaton revealed that he made significant purchases between $40 and $45 and subsequently increased his position on June 30, sharing his investment insights with his followers. Talking about the Coinbase (COIN) shares 51-week low of $31, he had acquired the COIN share between $40-45. He also added more COIN to his portfolio later on June 30.

In another competitive space, Bitcoin has surpassed Berkshire Hathway’s market cap with an astounding rise to $800 billion.

Also Read: Bitcoin (BTC) Price Smashes Past $41,000 First Time in 18 Months, What’s Next?

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