- Bitcoin’s mainstream adoption is growing with significant institutional backing.
- U.S. government programs are going the same way with Bitcoin’s future potential.
- Financial advisors should consider Bitcoin due to its rising importance and momentum.
John E. Deaton, a prominent attorney and vocal advocate for the cryptocurrency space, recently took to social media to outline the compelling case for Bitcoin, particularly in light of recent developments in both the financial and governmental sectors. His tweet, titled “REVIEWING THE CASE FOR BITCOIN,” delves into the growing significance of Bitcoin and the shifts occurring in the financial landscape. Through a series of insightful points, Deaton explores Bitcoin’s value today, as well as its increasing institutional support and government backing.
Bitcoin’s Growing Relevance
According to Deaton, it is no longer reasonable for a financial advisor to dismiss Bitcoin out of hand, especially at $84,000. He argues that, regardless of how one feels about Bitcoin, to support advising clients to have zero exposure to Bitcoin today borders on negligence. Although the market dynamics may change, Bitcoin is becoming a “must-have” asset in a diversified portfolio.
Another notable event hailed by Deaton is the newly initiated Bitcoin-backed lending services for institutions. This development further integrates cryptocurrencies with traditional finance. Now that Cantor Fitzgerald manages Tether’s reserves and possesses a fraction of U.S. Treasuries, it has begun offering financial products backed by Bitcoin, further proving that Bitcoin is making headway at the institutional level. Official Strategic Involvement by the U.S. Government.
Deaton also highlights the U.S. government’s growing interest in Bitcoin. The President recently issued an executive order to establish a Strategic Bitcoin Reserve, urging key government figures, including the U.S. Treasury Secretary and the U.S. Commerce Secretary, to find “budget-neutral” ways to acquire Bitcoin. Deaton notes that the government’s engagement with Bitcoin suggests that Bitcoin’s value is beginning to align with the objectives of U.S. monetary policy.
Related: Bitcoin Surges Above $84K After U.S. CPI Data Sparks Relief
Key Figures Supporting Bitcoin
Deaton also mentions several influential figures backing Bitcoin. Howard Lutnick, CEO of Cantor Fitzgerald, has disclosed owning tens of millions of dollars in Bitcoin and predicts significant future gains. Additionally, Larry Fink, CEO of BlackRock, has publicly stated that BTC should be in every portfolio, further solidifying its status as a core asset in diversified portfolios.
Deaton stresses that financial advisors who fail to recommend even minimal exposure (1–5%) to Bitcoin are neglecting their duty to clients. Given Bitcoin’s history of price volatility and current momentum, Deaton suggests that avoiding it could mean missing one of the most lucrative investment opportunities of a lifetime
