John Deaton is well known as one of the most prominent U.S. digital asset lawyers and a long-term supporter of Ripple's and XRP's ecosystems and communities. However, when it comes to his own portfolio, XRP might be still overshadowed by the largest cryptocurrency.
John Deaton on his BTC investments: "My XRP family overlooks this"
In his recent tweet commenting on his photo on the stage of the XRP Las Vegas 2023 event, which took place earlier this month, Deaton commented on his personal digital assets portfolio.
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 😂):— John E Deaton (@JohnEDeaton1) May 20, 2023
But the #XRPCommunity is the brightest, most knowledgeable, and most passionate of all crypto communities. https://t.co/sju4hjqsIt
According to his comment, the share of Bitcoin (BTC) he stores in his portfolio "significantly outweighs" his personal investment in the XRP cryptocurrency.
With a bit of irony, he claimed that he hoped his "XRP family" would overlook and forgive this strategy of the long-term Ripple supporter and loud commentator on its battle with the SEC.
At the same time, he is sure that in terms of communities, the "XRP Army" is the brightest, most knowledgeable and most passionate at the same time.
As covered by U.Today previously, Deaton admitted that Ripple would not leverage XRP in its newly-launched liquidity hub due to the lack of regulatory clarity in the U.S.
U.S. SEC is broken, lawyer explains why
Representatives of the XRP community demonstrated mixed feelings about this position proclaimed by the lawyer. However, commenting on his tweet, some of them stated that they also hold large positions in Bitcoin (BTC), Gold (XAU) and so on.
XRP Las Vegas 2023 was organized in early May by the Digital Perspective founder Bradley Kimes. It is called an analogue of Bitcoin Miami, which is the most popular gathering of the supporters of the orange coin.
Protecting Ripple in its years-long legal battle with the SEC, John Deaton repeatedly criticized the U.S. regulator for its ignorance and unwillingness to create a clear legal framework for digital assets in the U.S.
On May 16, 2023, he slammed the SEC yet again and stated that the regulator was "indefensible" and "broken." The SEC's recent policy "didn't honor its statement," the lawyer added.