An Indian couple requested for friends and family to gift them bitcoin at their wedding earlier this month. The couple, Prashant Sharma and Niti Shree, are the founders of a startup in the technology industry and hold high hopes for the future of bitcoin and distributed ledger technology.
A Newlywed Couple From India’s Southern City of Bangalore Recently Requested Bitcoin as Their Preferred Wedding Gift
Prashant Sharma and Niti Shree discussed their decision request bitcoin as a wedding gift with the media, with Mr. Sharma stating “We thought of merging technology with gifting for the future. We explained it our parents and they were very receptive.”
The wedding occurred on the 9th of December, less than a week after the Reserve Bank of India issued its most recent warning to prospective investors against the risks associated with cryptocurrencies. Of the almost 200 friends and family attending the wedding, only 15 chose to gift the couple with “traditional” items.
Mr. Sharma Stated That He and His Wife Will Sell the Gifted Bitcoins to Fund Education Initiatives Targeting Underprivileged Children
The couple estimates that they were given approximately 100,000 INR (approximately $1,560 USD) worth of bitcoin in total. One relative who gifted bitcoin stated of the cryptocurrency that “The concept is good,” adding his expectation that its acceptance will become widespread though “many governments may not like it now.” Another guest stated that “Prashant and Niti did not decide on bitcoin as a gift in the last couple of weeks. It was planned a couple of months ago.”
Mr. Sharma indicated that he and his wife have been interested in the performance of bitcoin for the longer term, stating: “If you buy something to sell it later then you are creating a bubble. We bought bitcoin because we wanted to see how this technology moves forward.” Mr. Sharma also expressed his expectation that the distributed ledger technology industry will flourish, stating: “The disruptive potential of blockchain technology is so huge that it just cannot be banned.”
Last month, it was reported that a Kenyan citizen had arranged to pay the ‘goats portion’ of his dowry using bitcoin. As of late November, Anthony Mburu had paid the equivalent of 25 of the 100 required goats.
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