Bollywood Hungama
Last Updated 15.11.2018 | 9:31 AM IST
  • LANGUAGE

  • FOLLOW US ON

  • FEEDBACK

Amitabh Bachchan becomes a bitcoin millionaire

/00:00 00:00

Listen to this article in audio

Amitabh Bachchan becomes a bitcoin millionaire

Remember the popular show ‘Who wants to be a millionaire’ and it’s Indian counterpart ‘Kaun Banega Crorepati’? Well, the host of the Indian show, Amitabh Bachchan has certainly become a millionaire after his 2015 investment of USD 250,000 shot up to USD 17.5 million. Apparently, Amitabh Bachchan and his son Abhishek Bachchan had invested USD 250,000 in Ziddu.com – an asset owned by Singapore-based Meridian Tech back in 2015. But, last week LongFinn Corp acquired the holding and its subsequent listing on NASDAQ saw the stock price rise by 1,000 percent after surging over 2,500 percent on Friday, when the company announced its decision to acquire Ziddu.

As per reports, when the Bachchan had invested in Meridian, Ziddu was described as a ‘cloud storage and e-distribution startup’, however, post the company’s acquisition by LongFinn Corp, its description changed to ‘a Blockchain technology empowered solutions provider’ that offers microfinance using crypto currencies across continents. Essentially translating the Bachchans 250,000 shares into the same amount of LongFin shares in lieu of their holding in Meridian Tech. This conversion saw their USD 250,000 investment skyrocket to USD 17.5 million in value.

Recommended for you

Rate this article
Make favorite

Forgot Password

Please provide your registered email address or username
  • OR

Write A Review

  • Click to rate on scale of 1-5
  • 5000 characters remaining

New notification