Today, I joined Juliette Saly on Ausbiz to discuss what’s powering Bitcoin’s bull case. I explained that Bitcoin is highly sensitive to global central bank liquidity which has been rising since late 2022. With over US$300 trillion in global debt that requires constant refinancing – central banks are forced to inject liquidity, effectively deflating the U.S. dollar. That’s why Bitcoin, like gold, is increasingly being seen as a natural hedge.

Adoption is also broadening with institutions, exchange-traded funds (ETFs) and major payment networks (like Visa and PayPal) now enabling cryptocurrency transactions – further propelling the asset class’s popularity.

Finally, I shared my thoughts on the financial year 2025 reporting season, where resilient results from retailers (such as ARB, JB Hi-Fi and Super Cheap Auto) suggest consumer sentiment may be starting to improve, despite the tough macro backdrop.

Catch the episode on Ausbiz here: What’s powering Bitcoin’s bull case?

Disclaimer

The Montgomery Small Companies Fund, The Australian Equities Fund, The Montgomery [Private] Fund, and The Montgomery Fund own shares in ARB Corporation. This article was prepared 21 August 2025 with the information we have today, and our view may change. It does not constitute formal advice or professional investment advice. If you wish to trade ARB Corporation, you should seek financial advice.