Why Buying Bitcoin at $106K Might Just Be Smarter Than Checking Your Phone

Meet John Deaton, the swaggering lawyer who’s decided that sinking your hard-earned cash into Bitcoin at a hefty $106,000 — yes, that’s a hundred and six thousand dollars — is actually a clever move. Apparently, he’s under the impression that now is the golden age of macroeconomic chaos, institutional intrigue, and political ballet, making Bitcoin a more alluring and “asymmetrical” gamble than ever before. Because nothing screams stability like putting your money on a rollercoaster that occasionally catches fire. 🎢🔥

In true Twitter (or X, as the cool kids call it) fashion, Deaton hopped online to respond to Bitcoin Magazine’s bigwig, David Bailey, who kindly suggested investors “try their luck” with Bitcoin. Deaton, always the optimist—or perhaps the gambler—claims that buying when Bitcoin’s price is a staggering $106,000 is a better move than when it was just $25,000. Because who doesn’t want to gamble with more expensive chips? 💸

— John E Deaton (@JohnEDeaton1) June 8, 2025

In the past week alone, a whopping 16 companies decided to hedge their bets by adding Bitcoin to their balance sheets. Countries like Pakistan, Ukraine, and Ireland are reportedly eyeballing Bitcoin as their new, shiny national reserve. It’s like a global game of Monopoly, only with less fun and more fiscal anxiety.

Deaton, who apparently lives in the Bitcoin camp (roughly 82% of his net worth, for the record), claims he snagged his initial investment below $25K, so he’s feeling pretty good about the current market antics. Peter Schiff — that guy who’s been loudly questioning Bitcoin’s “safe haven” status—may want to hold his breath. Deaton is confidently bullish, despite the wild ride, declaring that buying at $106K is more “asymmetrical.” Basically, he’s betting that Bitcoin will still somehow come out on top, or at least look cool in history books.

Of course, Deaton admits to his own “confirmation and wealth preservation bias,” which is fancy talk for “I really want this to work.” But in today’s topsy-turvy world of economic shenanigans, his stance reflects a growing belief that Bitcoin might just be the long-term hero of the financial apocalypse—or at least a mildly entertaining side show.

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2025-06-09 07:01