My views as of Jan-22:
- Bullish on principles – DLT/Tokenization/FatProtocol/etc here to stay, will grow in adoption/use cases/aggregate mkt cap/etc
- Bullish on BTC – mainly based on store-of-value medium, metastability, focus on security, low(est?) attack surface w/ longest track record. Long term (LT) vulnerable to Satoshi-type paradigm shifting insight that created BTC in first place, although theoretical risk for now
- Bullish on smart contract and dapp platforms in general, but not all-in on ETH (or any other L1 (or L2 for same reason) protocol). LT adoption of distributed smart contracting mainly driven by combination of technological innovation and end-user experience; perpetual creative destruction by new entrants seems more likely (very)LT than perpetual successful and timely incumbent innovation, despite network effects of incumbent(s)
- Best current investment thesis may very well be this then, with allocation weights roughly BTC:ETH >1 , BTC:L1’s ~ 1, BTC:ALL < 1