Pro-Ripple Lawyer Advocates for Bitcoin Investment Amid XRP Support
Lawyer John Deaton advocates for Bitcoin exposure, regardless of individual beliefs about the cryptocurrency. He argues that financial advisors should recommend BTC investments at its current price of approximately $84,000.
Institutional Adoption and Government Influence
- Cantor Fitzgerald launched Bitcoin-backed lending for institutions.
- Howard Lutnick, owner of Cantor Fitzgerald, holds substantial BTC investments.
- President Trump directed government officials to acquire BTC through budget-neutral means.
- US Treasury Secretary Scott Bessent possesses significant BTC holdings.
- Tether is linked to Bitcoin accumulation strategies via its financial networks.
- BlackRock's Larry Fink supports including BTC in investment portfolios.
Budget-Neutral Bitcoin Accumulation Strategies
- Proposed government strategies to acquire BTC without taxpayer burden include seizing from criminal activities.
- U.S.-based miners could pay royalties in newly mined BTC for tax incentives.
- Federal tax payments could be accepted in BTC, retaining some as reserves.
- Swapping gold reserves for BTC and tokenizing US Treasury bonds are additional strategies.
- Accepting BTC payments for federal land and energy leases is suggested.
- Issuing BTC-backed government bonds similar to El Salvador’s approach is also proposed.
Ascending Triangle and Potential Breakout
Analyst Ali Martinez notes Bitcoin is forming an ascending triangle pattern, which may lead to a breakout. If BTC breaks above resistance, it could rise by approximately 9%.
The target for this breakout, based on the triangle's height of $7,280, could push BTC to around $91,280 if bullish momentum follows.
