Fat Tail Daily – ASX Updates | Small caps | Commodities

While the US and Iran face off in the Persian Gulf, and the broader Western alliance navigates the fractures opened by Trump’s second term, Australia sits in a rare sweet spot.

Markets rolling in one direction, key pieces are lining up for both sides. Enter Pax Silica, and a new set of rules for investors.

The market has thrown out anything remotely connected to traditional software-as-a-service (SaaS) businesses. But high-quality software names with multi-year contracts, regulatory moats, and deep customer integrations have been caught in the crossfire. For patient investors, that’s an opportunity.

The new Fed nominee has called Bitcoin a ‘sustainable store of value,’ and the ‘new gold’ for anyone under 40. So why isn’t Bitcoin surging? The answer reveals something important about what Bitcoin is in this moment, and whether it belongs in your portfolio.