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On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".US President Trump: Abu-Bilal al-Minuki, the second-in-command of the Islamic State extremist group, has been eliminated. The operation was carried out jointly by the US military and the Nigerian armed forces.According to the official measurement of the China Earthquake Networks Center, a magnitude 2.3 earthquake occurred at 11:12 on May 16 in Weichang County, Chengde City, Hebei Province (42.40 degrees north latitude, 117.37 degrees east longitude), with a focal depth of 10 kilometers.Market news: SpaceX shareholders approve 5-for-1 stock split.

Cuba Allows Cryptocurrency Services but Requires A License From the Central Bank

Cory Russell

Apr 28, 2022 09:50

After approving the personal use of cryptocurrencies last year, the Cuban central bank released rules for virtual asset service providers on Tuesday, a move that some experts believe might help the Communist-run Caribbean island avoid hefty US penalties.


Cryptocurrencies, which enable financial transactions to be carried out anonymously and decentralized, have previously been used to circumvent capital regulations and improve the efficiency of payments and transfers.


Those intending to use cryptocurrencies must get a license, according to the bank authorisation, which was published in the government's official gazette on Tuesday.


Before giving a license, the bank said it would assess the legality, socioeconomic interest, and project features of every request. The license would be valid for one year at first.


The introduction of mobile internet three years ago paved the path for cryptocurrency transactions in Cuba, and the number of cryptocurrency fans on the island is rising as the currencies assist the nation overcome difficulties posed by US sanctions.


Cubans are blocked off from traditional international payment systems and financial markets by the US trade embargo, which has been in place for decades. On the island, Cubans are unable to get credit or debit cards for foreign usage, and they struggle to do so overseas.


"If the central bank is developing a cryptocurrency-friendly legislative framework, it is because they have already concluded that it may help the nation," said Pavel Vidal, a former Cuban central bank economist who now teaches at the Pontificia Universidad Javeriana Cali in Colombia.


El Salvador, the first nation in the world to embrace bitcoin as legal cash, is one of Cuba's Latin American neighbors to be interested in cryptocurrencies.


Vidal said he doubted Cuba would follow El Salvador's lead and adopt bitcoin as its currency of choice or create its own cryptocurrency, instead preferring to focus on enabling remittances and international foreign trade activities.


"This may lower the cost of these international transactions and provide an alternative to dollar-based operations that are less susceptible to sanctions," he added.

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