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Amitabh Bachchan has been a showbiz trendsetter for decades, and now he seems to be extending that tag to investing as well. Last week, Ziddu. Between Wednesday and Monday, the stock rose 1, percent after surging over 2, percent on Friday, when the company announced its decision to acquire Ziddu.
When the Bachchans invested in Meridian, Ziddu was described as a "cloud storage and e-distribution startup". However, this month, the description changed to "a Blockchain technology empowered solutions provider" that offers microfinance using "crypto currencies across continents. LongFin is not the first stock to zoom thanks to the rise of Blockchain and cryptocurrencies this year. Many technology companies, that earlier had different names of descriptions, have added one or both of these words to their names or descriptions and have seen their stock prices rise exponentially in a very short span of time.
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As per a report in Economic Times, in Amitabh Bachchan along with his actor/son Abhishek Bachchan invested around $, (Rs Crore). Crypto King: Amitabh Bachchan turns INR 16 million into INR billion. Was the crypto-enthusiast Waqar Zaka right all along? India's top two crypto platforms have each tapped stars -- one, Amitabh Bachchan, may be the most famous Indian actor of all time -- to promote.