Renowned pro-XRP lawyer John Deaton has shared reflective insights into his crypto investment strategy and elaborated on factors to drive XRP’s future value.
Deaton XRP Portfolio Two Years Ago
In a recent tweet, Deaton noted a remarkable shift in his crypto portfolio. He highlighted that amid the initial stages of the legal battles against the SEC in 2021, he owned Bitcoin (BTC), Ethereum (ETH), and XRP.
In particular, the lawyer stated that at that time, he held ten times more BTC than XRP and about four times more ETH than XRP.
To people’s surprise, back then, I owned 10X more in #BTC than #XRP and 3-4X more in #ETH than #XRP.
Today, I still own more in #BTC than #XRP but now I own significantly more in #XRP than I do #ETH.
— John E Deaton (@JohnEDeaton1) November 8, 2023
However, in surprising twists, Deaton disclosed that he now owns significantly more XRP than ETH, a decision fueled by his conviction that XRP is poised for substantial growth.
Moreover, Deaton admitted to defying conventional investment wisdom. The lawyer consented that his investment strategy was led by his heart as he fought against the SEC. He disclosed buying more XRP as he became more convinced of a legal victory against the “bad guys.”
I did exactly what you’re not supposed to do when investing: I bet my heart. The more I fought the SEC, the more I bought #XRP. I became convinced we would win in court, plus it felt like I was betting on myself, along with my 75K friends, and since we were going against the bad…
— John E Deaton (@JohnEDeaton1) November 8, 2023
Meanwhile, Deaton posed critical questions about the sentiment surrounding the three major cryptocurrencies. He pondered whether presumptions towards BTC, ETH, and XRP remain unchanged.
He asserted that Bitcoin has established itself as the premier store of value. In parallel, he highlighted his belief in Bitcoin’s lasting presence, envisaging its growth to surpass gold’s market cap and reach over $500,000 per coin.
I believe the digital gold, digital property, store of value narrative has won, and #Bitcoin is here to stay.
I believe using #BTC as a collateralized asset will increase over time. I believe #Bitcoin eventually exceeds the market cap of gold, placing it over $500K.
— John E Deaton (@JohnEDeaton1) November 8, 2023
Factors to Shoot Up XRP Overtime
On the other hand, Deaton sees XRP as the ultimate play on payments, particularly in the cross-border payments market. Backing his stance on XRP, Deaton presented compelling statistics about the cross-border payments market.
The lawyer cited that the volume of customer payments to businesses in cross-border transactions stood at $2.8 trillion in 2021. Likewise, business-to-business intercontinental payments totaled over $150 trillion in the same year.
Furthermore, he noted the global payment sector has already seen transactions worth $190 trillion this year. Meanwhile, authoritative sources have projected cross-border payments will explode to $290 trillion by 2030.
Just how big has the cross-border payments market been in 2023?
USD: $190 trillion
Global payments are expected to skyrocket from USD $190 trillion in 2023 to a staggering USD $290 trillion by 2030.
– FXC Intelligence, Cross-border payments market sizing data.Oct 31, 2023.
— John E Deaton (@JohnEDeaton1) November 8, 2023
Therefore, Deaton expressed his conviction in XRP. He noted that with XRP claiming a fraction of the multi-trillion dollar market, the digital asset is poised for long-term presence and substantial value appreciation.
Clearly cross border payments is a massive market with the forex market being the largest financial market in the world.
In sum, I think #XRP will be around for the long-term and will appreciate in value considerably, by capturing a piece of the overall market share – although…
— John E Deaton (@JohnEDeaton1) November 8, 2023
However, he clarified that he does not subscribe to the astronomical price predictions by XRP analysts. Yet, he humorously notes that he would gladly celebrate if proven wrong.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
