How to Get Rich in Crypto in the Next 3 Years w/ Kyle Soska

Kyle Soska believes Bitcoin and “E” have likely put in durable cycle lows, but sees the next three years as a different kind of opportunity from the last cycle: fewer first-time buyers, more competition for attention, and greater rewards for assets with durable narratives, cash flow to holders, or lasting utility. He says crypto participation reached only about 30–40% of people eligible to take part, but much of the capital returning now comes from existing crypto investors rather than new outside buyers. In his view, strong assets can make new highs while weaker ones lag; investors should not assume all altcoins must wait for Bitcoin to lead.

His central investing principle is to find a gap between his view and the market’s, then benefit if the market changes its mind. He favors products he uses and understands, and argues that holding a high-conviction position may require staying out of consensus for a year, two, or three rather than revising one’s view every day. He describes 2017–2025 as a period when being right and making money often diverged, and expects that from 2026 onward sound judgments will more often pay. But timing matters: his view that DAOs were poor tools for coordinating product development took about two years to be borne out, and he says he learned to stay roughly three months ahead of the crowd, not three years.

The Hyperliquid trade illustrates that approach. Years of research into perpetual futures, including work on BitMEX and on-chain trading, shaped Soska’s conviction in the product category. After using Hyperliquid in 2023, he and partner Flood moved much of their trading there before the token launch, impressed by the product and the team’s ability to build a good trading venue. On HYPE’s launch night, Flood used available cash to buy heavily, believing the price might not return to that level; they did not feel compelled to sell afterward. Soska considers Hyperliquid the leader in on-chain perpetuals and sees further upside if the product can draw users from traditional options trading, but says the necessary pieces still need to fall into place. He said HYPE was around $94–$95 at recording; a $300 price, in his view, would require taking market share beyond crypto, not simply a broad bull market.

Soska sees 24/7 trading, stablecoins as low-friction ways to move value, and perpetual futures as crypto’s strongest product-market fits. He expects these tools to become more common within five years, potentially under fintech or finance labels. A 10% conversion rate among people who try Hyperliquid or similar perpetual-trading products could substantially expand the sector, but he sees limits to how much more efficient on-chain venues can become. He prefers owning the on-chain leader or a meaningfully more capable centralized product over an incremental competitor; Binance is his current benchmark for centralized perpetual trading. A faster, higher-tier U.S. exchange could still emerge, possibly at CME or as a new venue.

His risk advice is to avoid forcing a search for a 10x trade. He recommends aiming for many singles and then sizing up when a high-conviction opportunity becomes clear; chasing a 10x every year can mean being wrong repeatedly before one win. He also warns that supply matters as much as a coin’s apparent quality: a token with little available float can squeeze shorts even when traders think it is overvalued. He stayed out of a dramatic Tellor (TRB) run despite recognizing the cornered-supply and funding dynamics, because he feared the holder could crash the price. He says shorts should be limited to coins whose supply dynamics are understood, and speculative shorts should remain small and diversified.

For someone with $100,000, Soska recommends keeping a job, contributing to society, and investing with low mental overhead rather than trading full-time; someone with $1 million who wants to reach $10 million might reasonably focus full-time on compounding if living costs are manageable. A strong six months or year is not, by itself, a reason to turn trading into a livelihood. He says self-funding allows him and Flood to hold convictions without investor pressure, but also makes them more risk-averse because they personally bear losses. Bitcoin remains exposed to uncertainty about quantum computing: Soska says the threat is not imminent, but concern about a possible threat within the next decade can weigh on holders. He thinks Bitcoin could reprice materially higher if a quantum-safe path gains support, while acknowledging that larger signatures and contentious upgrades complicate a solution.