Amitabh Bachchan Reaps More Than $17 Million From Bitcoin Investment

Amidst the buzz of Bitcoin spreading all across the globe and gaining divided stances on the credibility of the Blockchain based technology, Bollywood superstar Amitabh Bachchan has reportedly ridden the wave of cryptocurrency’s exponentially surging value. Over the last two years, a $250,000 worth of investment made by the Big B and his son Abhishek Bachchan has now increased to a whopping $17.5 Million in value.

Back in May 2015, the Bachchan family invested in a Singaporean firm - Meridian Tech Pte as a portion of their personal investment. The firm, founded by Venkata Srinivas Meenavalli, held Ziddu.com as its prime asset, a Blockchain research company. As per a report by ET, the firm was acquired by LongFin Corp last week, after two days of it getting listed on NASDAQ. Following the announcement of Ziddu.com acquisition, LongFin Corp’s stocks surged over 2500% on Friday. The acquisition deal resulted in the Bachchan’s receiving a whopping 250,000 shares of LongFin. In monetary terms, Monday’s stock price of LongFin at $70 a share puts the Bachchan’s holdings in the company at a staggering $17.5 Million (approximately Rs 112 Crore). That is an approximate jump from Rs 1.6 Crore to 112 Crore in a period of two and a half years.