In a recent public statement, John E Deaton, a popular legal expert and cryptocurrency advocate, tagged Bitcoin, the largest digital asset, as a symbol of financial freedom and a key tool in the fight against centralized financial control by high-profile figures like U.S. Senator Elizabeth Warren. Deaton’s praise for Bitcoin highlights its decentralized nature, which is meant to empower individuals by offering them an alternative to established banking institutions and government-imposed financial regulations.
Bitcoin is financial freedom
The expert revealed his insights during a podcast with SkyBridge Capital founder Anthony Scaramucci when asked what the first word that comes to mind when he hears Bitcoin is. John Deatonwell known for his legal advocacy in the digital asset space, responded by saying that Bitcoin is freedom.
Deaton then based his vision on the self-determination he has always had in the United States. “The America I grew up in, and the America I defended by joining the Marine Corps, is a country where your birth and the circumstances of your childhood do not dictate your destiny. In the America I love, your destiny is determined by you,” he said.
Although Deaton argues that individuals should be able to shape their own destiny, he noted that U.S. Senator Elizabeth Warren argues that people should all live in a nanny state, where those in power, including her, dictate how people should lead their lives.
The message read:
Warren, on the other hand, believes in a welfare state, where elites like her have the power to tell us how to live our lives. They think they know what’s best for us. Warren thinks Bitcoin is a terrible investment. Okay, maybe it is, maybe it isn’t. She has the freedom not to invest. But that’s not enough for her. She thinks she has to protect us from bad investments.
According to the expert, Warren thinks she knows what is in the best interest of the general public because she claims that investing in Bitcoin is a terrible investment choice. He said Warrens believes it is their responsibility to protect individuals from bad investments, but that this protection comes at the expense of individual liberty.
Deaton also compared his situation to Apple in 1980, when state regulators banned the general public from buying Apple stock during its initial public offering (IPO). While Deaton noted that state regulators prevented individuals from investing in Apple stock at the time, he believes Warren wants to follow suit with Bitcoin.
Bitcoin Stabilizes Inflation and Budget Deficit
Deaton’s perspective comes in response to CoinbaseBitcoin co-founder and CEO Brain Armstrong highlighted Bitcoin’s role as a counterweight to inflation and deficit spending. “Bitcoin is an important check and balance on inflation and deficit spending,” he said.
Related readings: John E. Deaton Criticized the U.S. Government’s Bitcoin Deal with Coinbase. Here’s Why
At a time when broad fiscal policies are making traditional fiat currencies more vulnerable to inflationary pressures, Armstrong argues that Bitcoin stands out as a means of protecting value. Armstrong also noted that the digital asset has the potential to expand both the American experience and Western civilization, as he believes owning Bitcoin is pro-American.
Featured image of X, chart from Tradingview.com
