Bollywood’s Big ‘B’, Mr. Amitabh Bachchan is now Big ‘B’ in the Bitcoin world!

Nishanth Shetty

Nishanth Shetty

December 20, 2017 1:11 pm

Bollywood's Big 'B', Mr. Amitabh Bachchan is now Big 'B' in the Bitcoin world! | Coindelite News
76327 Total Views

Bitcoin News

Amitabh and Abhishek Bachchan saw their $250,000 investment in Meridian Tech (Bitcoin) skyrocket to $17.5 million in value.

For decades, Amitabh Bachchan has been the Showbiz Trendsetter, and now he is expanding that tag to invest.

Last week, Ziddu.com – A property owned by Singapore-based Meridian Tech, which Amitabh and his son Abhishek invested in $ 250,000 in 2015 – acquired by LongFin Corp, according to a report by The Economic Times.

The deal lasted only two days after the Longfin stock was listed in NASDAQ. Shares between Wednesday and Monday were up by 1,000 percent. After a rise of 2,500 percent on Friday, while the company announced its decision to acquire Ziddu.

While Bachchan invested in Meridian, Ziddu described “Cloud Storage and e-Distribution startup”. However, this month, the description changed to “a Blockchain technology empowered solutions provider”, which provides microfinance “cryptocurrencies across continents”.

So when Longfin Ziddu’s acquisition was announced, Bachchan’s 250,000 shares of LongFin in lieu instead of their holdings in Meridian Tech, saw the skyrocket worth $ 17.5 million worth USD 250,000.

LongFin thanks to the increase in blockchain and cryptocurrency this year. Many technology companies with different names of early explanations add one or both of these words to their names or descriptions, and their stock prices have risen exponentially over a period of time.

Venkat Meenavalli, Chairman, and CEO of LongFin Corp said:

“It’s crazy… the global euphoria over Blockchain is sweeping the world…no intrinsic value can be attached.” 

But still, now, there is no response from Mr.Bachchan regarding the cryptocurrency money. He did not reveal what he is going to do with it.

No Comments
Blockchain Tech will Help Liverpool become World’s First Climate-Positive City

As per a Local News outlet edie.net, the Liverpool City Council (LLC) declared that it would utilize blockchain tech to decrease the city’s climate impact. A tweet from the Liverpool City Council (LLC) describes that the effort to lessen the city’s climate impact is an aim to become the “world’s …

Costa Rican Employees are Getting Paid Legally in Bitcoin

Costa Rica which is located in Central America and ranked as one of the most visited international destinations is now open to Cryptocurrencies like Bitcoin. Costa Rican Employees has grabbed an opportunity to get paid Legally in Bitcoin. The national legislation specific provisions allow companies to pay their workers including …

Facebook Allows Cryptocurrency Ads for Coinbase

A few months back, several technology giants decided collectively to ban crypto-related ads. The list included Facebook, Twitter, Microsoft, and Google. The move was enforced as a means to curb scams and illegal activities that were conducted through the platform. After imposing a ban on cryptocurrency ads, Facebook has allowed …

An Expert says XRP is Not a Real Cryptocurrency

The cryptocurrency industry still faces arguments over XRP whether it is a security and it has remained as a famous debate. But, now an expert said XRP is not even a “real cryptocurrency,” and SEC will be issuing its official statement whether it considers XRP as security. We recently published …

Malta says New Cryptocurrency Rules aren’t yet into Effect

Malta’s new digital currency regulatory framework has not taken into force just yet. Three bills regarding digital currencies, distributed ledger technology, and blockchain, passed by Maltese Members of Parliament in June, set out many ambitious changes to the nation’s legal landscape overseeing digital currency-related businesses. Although, the Malta Financial Services …

Supreme Court of India Postpones Crypto Banking Ban to September

Indian Supreme Court has decided to postpone the case on Banning the cryptocurrency firms from receiving banking services that are appealed by Reserve Bank of India’s (RBI) The local news channel Inc42 has published a report saying that decision on the ban has been postponed to September 2011. The board of judges …