Bitcoin is a way to have programmable scarcity. The blockchain is the data structure that records the transfer of scarce objects.

The Internet is programmable information. The blockchain is programmable scarcity.

Tokenization applies to scarce assets. Today, the most appropriate thing to tokenize is something that's purely digital. Bitcoin and ethereum are the canonical.

We think of bitcoin as mobile. It's not one company; it's broad.

Anything scarce will ultimately be tokenized because the benefits of digitization and increased liquidity are so great.

By, say, 2025-2030, I expect that there will be multiple jurisdictions that allow the tokenization of virtually any scarce resource, all the way down to personal tokens.