This post presents the investment thesis for Provenance, a public layer 1 blockchain with $12.1bn in tokenized Real World Assets (RWA) Total Value Locked (TVL). We argue that tokenization represents a fundamental shift in financial markets, generating significant cost savings across the entire financial stack. As the tokenization market expands into a trillion-dollar opportunity, we believe Provenance (token: HASH) is uniquely positioned to capitalize on this trend. Our base case forecast projects that Provenance's market cap should reach $60 billion, representing a 30x increase from its current valuation, making HASH a top 5 crypto asset.