The Milk Road Show

Crypto Is in Hard Mode Now - But Zeneca Still Sees 3 Huge Opportunities

Dec 4, 2025
The podcast explores the shifting landscape of crypto as the era of easy money ends. Zeneca shares insights on why retail investors may not flood back and discusses the social excitement of NFTs. He emphasizes a strategic shift towards fewer, longer-term investments while navigating a choppy market. Among the risks, Zeneca warns about potential tech and AI market crashes. Excitingly, he highlights three sectors with promising opportunities for 2025: prediction markets, AI/robotics, and Base, along with his thoughts on token evaluations.
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ANECDOTE

Quick 2017 Win From Minimal Research

  • Zeneca recalls easily buying XRP in 2017 with five minutes of research and seeing 20x gains.
  • That story illustrates how luck and low competition produced massive returns then.
INSIGHT

Easy Money Era Has Ended

  • The era of easy, luck-driven crypto gains (2017, 2021) is over and won't return in the same way.
  • Now investors must find differentiated edges rather than rely on simple luck or hype.
INSIGHT

Retail Won't Return As Wild Speculators

  • Broad retail mania likely won't return; many people were burned or simply don't have the risk appetite.
  • New retail may instead enter via ETFs with small, pragmatic allocations to crypto.
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