XRP Lawyer Comments On Elon Musk Possibly ‘Stacking’ Bitcoin
Highlights
- John Deaton stated that the possibility of Elon Musk accumulating Bitcoin is a cue for others to buy more.
- The XRP Lawyer had once predicted that Musk could begin accumulating BTC.
- Musk has been vocal against Trump's tax bill, which is seen as a motivation for him to pivot to BTC.
There have been rumors that the world’s richest man, Elon Musk, might be quietly accumulating Bitcoin after he allegedly liked a post hinting at this. XRP lawyer John Deaton has commented on what this could mean and how it is motivation for others to buy more BTC.
John Deaton Reacts To Elon Musk’s Alleged Bitcoin Move
In an X post, the XRP lawyer stated that if the wealthiest man in the world is buying Bitcoin, it may be a sign to buy some too, highlighting the influence that Elon Musk’s potential accumulation could have on BTC’s widespread adoption. This could also be a massive boost for the Bitcoin price.
John Deaton was reacting to rumors that the Tesla CEO liked a post about him quietly stacking Bitcoin. The XRP lawyer suggested that this was something to pay attention to, considering that Elon Musk is the most followed person on X.
He added that the world’s richest man is also aware that people scrutinize even his likes more than most people’s posts. As such, liking that post might be confirmation that Musk has more exposure to BTC than most people think.
In the X post in question, the CEO of Seedor, Coinjoined Chris, had remarked that “Maybe he [Elon Musk] is stacking quietly.” Chris was reacting to another X user, Vandelay, who had raised the fact that the Tesla CEO was talking a lot about things like overspending and debt in reference to Donald Trump’s ‘One Big Beautiful Bill.’
Maybe be is stacking quietly
— Coinjoined Chris ⚡ (@coinjoined) July 2, 2025
On the other hand, Vandelay remarked that while the world’s richest man discusses these issues, he has completely stopped talking about Bitcoin, “which is the most sane path out of the mess.” He claimed that Musk’s actions don’t add up and questioned what he was hiding, which led to Chris’s response that he may be quietly stacking BTC.
As CoinGape reported, Elon Musk has continued to criticize the tax bill and recently described it as the “DEBT SLAVERY Bill.” However, amid his criticism, the Senate has passed the bill, which now heads to the US House.
Exposure Through Tesla And SpaceX
It is worth mentioning that the world’s richest man already has Bitcoin exposure through his companies, Tesla and SpaceX. Arkham Intelligence data shows that the automotive company currently holds 11,509 BTC ($1.2 billion). Meanwhile, SpaceX holds 8,285 BTC ($895 million).
Interestingly, Deaton had predicted that Elon Musk and Tesla could buy more Bitcoin in reaction to his opposition to Trump’s ‘One Big Beautiful Bill.’ The XRP lawyer described the bill as the “walking billboard and advertisement for buying Bitcoin.”
Meanwhile, Bitcoin maximalist Samson Mow has also encouraged Musk to adopt BTC by allowing Tesla and SpaceX to receive payments using the flagship crypto. He told him to make this move before they freeze his fiat assets, probably as a result of his criticism against the government officials supporting the bill.
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