My interest in Chainlink pretty much comes down to this: Tokenization of RWA is coming. I believe it’s going to be big. CEO of Blackrock Larry Fink says “We believe the next step going forward will be the tokenization of financial assets and that means every stock, every bond... will be on one general ledger.”. I assume that’s only just the beginning. My high level understanding is that Chainlink spent years building the infrastructure that lets advanced smart contracts actually function for institutions as the orchestration layer for tokenization. And it seems like they have a sort of monopoly on this, or at least the groundwork for one. “Today, Chainlink powers approximately 70% of the global DeFi market, including 80% of Ethereum DeFi and 90% of DeFi on leading layer-2 networks. Chainlink has enabled tens of trillions of dollars in transaction value, including trillions of dollars in deposits and borrows for lending platforms like Aave.” It also seems to me like AI agents will need some sort of blockchain infrastructure like this to participate in the economy: xitter.cf/etherealize_io/status/… When I think of crypto, I think of BS like Bitcoin, which IMO does nothing. NFTs, which are pump and dump BS, etc. Chainlink is a tech company that built sophisticated infrastructure. The only way you can own it is though the $LINK token. Because the crypto space has this stigma around it (rightfully so), I think Chainlink is likely overlooked by many. Looks like there’s debate in the crypto world about how value will actually flow through to $LINK holders. I really don’t care. My belief is that if trillions of dollars of value start flowing through Chainlink infrastructure, value will flow through to Link. To use Chainlink services, you either need the link token or can pay Chainlink with fiat money or some other currency, in which Chainlink will then use that money to buy back $LINK. Pretty sure Sergey and other link employees own a lot of Link.. the incentive is there to drive value. This will be a big shift in how finance operates and it looks to me like Chainlink will be at the center powering it. So to summarize it, I see change coming and believe Chainlink is positioned well. I think that if the bull case plays out, the value of $LINK will be so high that even a small allocation could produce significant returns. It’s a little over 1% of my portfolio today. I’ll look to buy more over time and maybe bump it up a few %. The asymmetry I see here helps me hedge for my ignorance. In the big picture, I understand nothing. I never thought I’d ever buy “crypto” but this just feels right to me. So I allocate a very small % and if I’m wrong, I don’t lose much. If I win, I win big. What does “win big” look like? Idk how to price this company. But I think $LINK would be worth much more than the $8B it’s priced at today. I don’t plan on writing about this a whole lot from here on out. There’s a lot of heavy hitters who write about Chainlink and are infinitely more knowledgeable than I am… Look to them if you’re interested. Just wanted to share my thoughts and be transparent about what I’m thinking. Will be fun to look back on in 5-10 years. Let’s see if my intuition is right.