Pro-XRP Lawyer Explains Why the Crypto Crash Is a Buying Opportunity

Highlights:

• John Deaton urges investors to keep buying crypto despite recent market drops.
• He pointed to clearer regulations and growing institutional investment under the Trump administration.
• The crypto market has declined significantly, shedding over 5% in the past 24 hours.

In a March 9 tweet, pro-XRP lawyer John Deaton urged financial advisors to push clients to buy cryptocurrencies despite the ongoing market dip. He highlighted the evolving crypto regulations and rising institutional investments under the Trump administration to back his claims.

Deaton tweeted:

“If you’re a Financial Advisor, is it not negligent, or even reckless, to avoid recommending at least, a small percentage of your investments in Bitcoin and/or other digital assets?”

The lawyer’s remarks came amid the crypto market crash, with prices dropping sharply in the past 24 hours. At the time of writing, BTC was trading at $82,489, showing a 3.54% decline in the past 24 hours. Solana (SOL) and XRP fell 6%, while Ethereum declined 2.88%, nearing $2,000. Cardano (ADA) and Dogecoin (DOGE) saw sharper losses, falling nearly 7% and 8%, respectively. Overall the cryptocurrency market dropped 3.65%, reaching a valuation of $2.71 trillion.

💥BREAKING:

$619 MILLION LIQUIDATED FROM CRYPTO MARKET IN LAST 24 HOURS.

Maybe crypto was better before Trump… pic.twitter.com/uTSoYAK6gR

— Crypto Rover (@rovercrc) March 10, 2025

Deaton’s Three Objective Reasons to Remain Positive

Despite the downturn, Deaton outlined three reasons to stay bullish on crypto. First, he pointed to President Trump’s Executive Order creating a Strategic Bitcoin Reserve and Digital Asset Stockpile. It directs the Treasury and Commerce Secretaries to explore budget-neutral Bitcoin acquisition methods. The attorney said the government could get BTC without budget strain. He did not specify how.

Second, Deaton highlighted the US Treasury Secretary’s claim that the reserve would initially focus on Bitcoin but eventually expand to other cryptocurrencies. Third, he referenced BlackRock’s Chief Executive Officer (CEO) Larry Fink who manages over $11 trillion in assets, suggesting investors allocate 2-5% of their portfolio to BTC. He believes this could push Bitcoin price between $500,000 and $700,000.

Pro-XRP Lawyer Compares Prevailing Landscape with Past Happenings

Deaton noted that two years ago, crypto advocates sought fair regulations to support innovation. “All we really wanted was a government that provided clear rules of the road, less overbearing regulations, establish a regulatory environment that fostered innovation in America and not force entrepreneurs offshore,” the pro-XRP attorney stated.

Deaton says the announcement of a Strategic Bitcoin Reserve and a Crypto Czar has brought excitement to the ecosystem. He adds that they didn’t expect a President to appoint a Crypto Czar, create a Crypto Council or Digital Assets Working Group, or establish a Strategic Bitcoin Reserve or Strategic Crypto Reserve

Bill Morgan Reacts

Pro-XRP lawyer Bill Morgan agreed with Deaton but warned that BlackRock’s Larry Fink’s idea sounds like a Ponzi scheme. He said it depends on limited supply and rising demand to raise prices. He argued crypto assets need intrinsic value such as utility or practical applications.

Deaton clarified his tweet wasn’t an endorsement of Fink’s advice but a factual reference. He stressed that crypto faces more urgent challenges beyond the reserve, which the government must tackle. These include stablecoin legislation, tax reform, a market structure bill, consumer protection for centralized exchanges, and reforming the accredited investor rule.

Deaton also called for regulatory clarity to level the playing field for digital assets, alongside strict penalties for bad actors. He argued this would boost innovation and safeguard customers.