John Deaton explained his purchase by saying that some crypto enthusiasts always do the opposite of what financial advisor and TV host Jim Cramer advises. On a recent episode of CNBC’s Squawk on the Street, Cramer expressed pessimism about Bitcoin’s prospects, declaring that it was about to crash.
I bought some #Bitcoin immediately after watching this on principle alone. https://t.co/RYVbspG7BY
— John E Deaton (@JohnEDeaton1) October 10, 2023
Cramer is known for his skepticism towards cryptocurrencies, so he often gives disappointing forecasts. However, assumptions often turn out to be wrong. In March, Deaton had already thanked Cramer for the expert’s instilling confidence in buying even more bitcoins, advising investors to quickly sell off the first cryptocurrency. Despite Cramer’s warnings, the Bitcoin rate then rose by 9% in four days.
Thank you @jimcramer for giving me the confidence to buy #Bitcoin https://t.co/360AlIv6KW
— John E Deaton (@JohnEDeaton1) March 18, 2023
In May, Deaton told his followers that his investments in BTC far outweighed his investments in XRP, with the lawyer calling the XRP community the most vibrant and informed community.
I have standing to make this comment b/c my #BTC investment significantly outweighs my #XRP investment (my #XRP family overlooks this and forgives me):
But the #XRPCommunity is the brightest, most knowledgeable, and most passionate of all crypto communities. https://t.co/sju4hjqsIt
— John E Deaton (@JohnEDeaton1) May 20, 2023
Let us remember that Deaton recently criticized a TV expert for saying that the public knows nothing about such a crypto asset as XRP. In September, the lawyer received an award and a $5,000 cash prize for defending the interests of cryptocurrency companies.
Source: Bits

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