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Thursday, December 26, 2024  
23 Jumada Al-Akhirah 1446  

Amitabh Bachchan makes profit of INR 1.12bn by investing in Cryptocurrency

Social media users are asking if Crypto-enthusiast Waqar Zaka was right all along, after news of Bollywood star...
SOURCE: Instagram/ Amitabh Bachchan
SOURCE: Instagram/ Amitabh Bachchan

Social media users were asking if Crypto-enthusiast Waqar Zaka was right all along, after news of Bollywood star Amitabh Bachchan turning his INR 16 million investment in Cryptocurrency into a profit INR1.12 billion flooded the internet on Monday.

According to Economic Times, Bachchan and his son Abhishek in 2015 invested around $250,000 in a Singapore-based company called Meridian Tech Pte, founded by Venkata Srinivas Meenavalli. Within a period of two years, the Bollywood father-son made a profit of $17.5 million.

Cryptocurrency is a decentralized digital currency which can be sent from user to user over the internet without the need for intermediaries.

When Meridian Tech’s main asset Ziddu.com got acquired by a company called LongFin Corp., Bachchan who had invested it in back in 2015 received 250,000 shares of LongFin Corp.

Bachchan had made two other investments that also worked in his favor. He had invested INR 6.27million in a company called JustDial, that turned into a profit of INR 70 million in just four months.

Looking at the successful journey of Bachchan in the Crypto world, social media users were forced to ask if Waqar Zaka was right about the blockchain technology all along.

Zaka is a long-time advocate of Cryptocurrency in Pakistan. He has been speaking against the proposed ban on the technology and urging the government to look at Crypto as a viable option for making money.

Many people have joined Zaka in his campaign to promote Cryptocurrency in Pakistan.

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cryptocurrency

Waqar Zaka

Amitabh Bachchan