Elizabeth Warren Rival John Deaton Holds 80% Of His Net Worth In Bitcoin — Also Owns Ethereum And Solana

Author: Aniket Verma | July 25, 2024 07:30am

Pro-cryptocurrency attorney John Deaton, who is running for Senate against Elizabeth Warren (D-Mass.) later this year, could potentially be the candidate with the largest Bitcoin (CRYPTO: BTC) holdings.

What Happened: On Wednesday, Fox Business journalist Eleanor Terrett reported on X that Deaton, who is vying for nomination from Massachusetts, has about a staggering 80% of his net worth in Bitcoin and Bitcoin-related investments. These claims were made citing the attorney's recent financial disclosures.

She speculated that, with such a huge share, Deaton may be the largest holder of the cryptocurrency among all elected officials and candidates in this year’s election.

🚨SCOOP: Is Massachusetts Senate candidate @JohnEDeaton1 the biggest holder of #Bitcoin of any elected official/candidate? His recent financial disclosures show that around 80% of his net worth is in $BTC or $BTC related investments. He also owns $ETH, $SOL and $XRP.

— Eleanor Terrett (@EleanorTerrett) July 24, 2024

Apart from the apex cryptocurrency, Deaton also holds other major coins such as Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and XRP (CRYPTO: XRP), the journalist added.

See Also: Peter Schiff Polls HODLers, Asks If They’ll Sell If Bitcoin Slips Below $15K – Here’s How They Responded

Why It Matters: John Deaton is well-recognized in the cryptocurrency community for his support of Ripple Labs in the ongoing legal tussle with the SEC, representing several individual XRP holders in the case. 

Deaton has been vocal in his criticism of both Warren and SEC Chair Gary Gensler for their approach toward the cryptocurrency industry.

His political campaign has started to attract significant funding, especially from the pro-cryptocurrency lobby. Last week, Tyler and Cameron Winklevoss, the co-founders of the cryptocurrency exchange Gemini, donated $1 million in Bitcoin to his campaign.

Additionally, Ripple donated $1 million to a super political action committee, Commonwealth Unity Fund, to support him.

Price Action: At the time of writing, Bitcoin was trading at $64,251.92, down 2.2% in the last 24 hours, according to data from Benzinga Pro.

Photo Courtesy: Shutterstock.com

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Posted In: $BTC $ETH $SOL $XRP