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Acting SEC Enforcement Director Berger to Step Down

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Baillie Gifford US Growth Trust Is Boosted by SpaceX, Moderna and Tesla

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The British Trust has about 9.5% of its funds invested in Tesla. The EV company’s stock was the best performing on Wall Street last year after surging more than 700%.

Baillie Gifford US Growth Trust PLC (LON: USA) is a large British Investment Trust established in 2018, with the sole aim of tracking US-based investments has recorded a profitable last half of 2020, thanks to the trust’s bet on some strategic companies. As reported by Yahoo Finance, The Baillie Gifford US Growth Trust noted and attributed its impressive half-year performance to its bet on Elon Musk’s two companies including public-traded Tesla Inc (NASDAQ: TSLA), and Space Exploration Technologies (SpaceX) as well as in the shares of Biotech company Moderna Inc (NASDAQ: MRNA)

Per the report, the Growth Trust note on Monday that the net asset value of its investments grew 53.8% in the six months to 30 November 2020 while it raked in a pre-tax net return of £266m ($359.9m), or 98p per share. With a total of 800 million pounds of investors’ money tied down in these outperforming stocks, further growth in the course of this year will also translate to boosted growths in the trust.

With about 12% of its position invested in SpaceX, the trust’s management justified its position in the space exploration company noting that:

“SpaceX has been innovating at a breathtaking pace. 2020 was the year that America sent astronauts to the space station again. SpaceX’s crewed mission was a first for a private company. Starlink, SpaceX’s satellite-based high-speed broadband service is up and running in beta, with over 900 satellites orbiting the earth delivering internet to users. And in Texas, SpaceX has been rapidly developing its Starship rocket, the vehicle it hopes will take people back to the Moon and then on to Mars.”

These highlighted roadmaps are set to position the company on a path of profitability in the near future as many have earmarked 2021 as the breakout year for space travel companies.

Baillie Gifford Trust Portfolio

The British Trust has about 9.5% of its funds invested in Tesla. The EV company’s stock was the best performing on Wall Street last year after surging more than 700%. With a sizeable position in COVID-19 vaccine manufacturer Moderna, the Trust is reportedly impressed with its early bet in the company as of 2018 when it made its public debut. The mRNA-1273 vaccine will be the company’s flagship commercial product and Baillie Gifford believes the messenger RNA technology can be adopted in creating other drugs/vaccines.

Baillie Gifford also has about 6% of its liquidity pumped into Zoom Video Communications Inc (NASDAQ: ZM) and Netflix Inc (NASDAQ: NFLX) respectively. Huge bets on Amazon.com Inc (NASDAQ: AMZN), and Wayfair Inc (NYSE: W) also shows the company has significant holdings in the top American e-commerce ecosystem.

“It has been a year of great pain and loss,” Baillie Gifford management wrote in the US Growth Trust’s half-year report. “But there has also been some important progress. As we look forward, we are optimistic about what the future holds

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Bitcoin News Roundup for Jan. 18, 2021

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With bitcoin hovering around $36,000 and Iran’s government blaming crypto miners for recent blackouts, CoinDesk’s Market’s Daily is back with the latest news roundup.

Add Markets Daily to your Alexa Flash Briefing here.

This episode is sponsored by Nexo.io.

Prices fell by 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September.

The investment giant predicts CBDCs will continue gaining steam, although a “launch among Western countries seems unlikely to occur anytime soon.”

Commentators and analysts who say bitcoin is in a “bubble” show they don’t understand what the term means.

The machines were said to have been consuming 95 megawatts per hour of electricity at a reduced rate.



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Mitsubishi Partners with Tokyo Tech and Develop Blockchain for P2P Energy Trading

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Mitsubishi and Tokyo Tech expect to commercialize the project as soon as possible.

Mitsubishi and Tokyo Institute of Technology have announced a new development, it is a blockchain system that would help to optimize peer-to-peer energy trading.

According to the announcement, the new technology would lead to the efficient use of any surplus power that might have been generated through renewable sources. Essentially, what this initiative is driving at is to ensure that there would always be surplus electricity available to users on the market at every point in time.

Blockchain System Offered by Mitsubishi

The P2P blockchain technology would afford consumers and producers to set-up transactions directly between themselves as buyers and sellers. And it also drastically reduces the need for a third-party platform or a hardware-intensive computation system. What blockchain technology does in essence is to help to perfectly match and make transaction orders more efficient and seamless.

Mitsubishi and Tokyo Tech have also come up with a new mining method that can be performed on a micro-computing server. Plus, their blockchain technology differs from others due to its distributed-optimization algorithm which would allow the computers of their customers to share their trading goals and data. This would enable the technology to effectively match their transaction order optimally.

And in order to ensure that all trades on the platform remain fair, searches for solutions are done in a decentralized manner ie it is carried out on multiple computers where the required matches are then selected at random. Again, when the right matches are found, parties involved in the transactions are able to carry out the transactions for prices that may be beyond the one quoted or even below the quoted price. Others who are unable to trade can be able to change their offers after assessing the bid conditions.

It is believed that this new development would drastically reduce power retail firms whose prices tend to fluctuate with the market conditions. It would also lead to a drop in the price of consumer goods like electric cars. They expect to commercialize the project as soon as possible after they might have carried out the evaluation of the system by April.

Blockchain Energy Platforms Are on Demand

Some countries have begun to make more demands for blockchain-based digital energy platforms.

In Thailand for example, an Australian firm Power Ledger announced a partnership with Thai Digital Energy Development (TDED) which would be geared towards developing a blockchain-based digital energy platform in the country.

The Asian country has focused on being able to generate 25% of its electricity from renewable energy by 2037, and it expects the partnership with Power Ledger to help it increase the adoption of renewable energy sources.

Power Ledger has also stated that it plans to leverage on the partnership with TDED to meet with other organizations that might be interested in using its blockchain energy trading technology.

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