This Frustrated Dropout tea stall owner and Rakesh Jhunjhunwala wannabe, accepts Bitcoin | Tech News

This Frustrated Dropout tea stall owner and Rakesh Jhunjhunwala wannabe, accepts Bitcoin

Shubham Saini, a college drop out and a wannabe Rakesh Jhunjhunwala, has a tea stall in Bengaluru and wants Bitcoin payment.

| Updated on: Sep 22 2022, 15:41 IST
Shubham Saini has launched a tea stall in Bengaluru where you can pay in Bitcoins. (REUTERS)

This 22-year old Bengaluru lad has started a tea stall where you can actually pay in a Cryptocurrency like Bitcoin. Shubham Saini, a BCA dropout has launched a modest tea stall named the ‘Frustrated Dropout' where you can pay via crypto, besides the clinking change in your wallet. The young entrepreneur's story has been reported by the Indian Express. An alumnus of Indira Gandhi University, Rewari, he came to Bengaluru in search of job opportunities. Here, Saini got interested in all things crypto. In 2020, when the crypto market crashed by over 60%, many investors invested in it including Saini as well. He invested almost his entire savings of 1.5 lakh and his crypto valuations surged by 100%. He made 30 lakh in his crypto folio and he couldn't be happier as a student.

With this enormous success, the young man aspired to be the ‘Rakesh Jhunjhunwala' of the crypto world. He said, “I thought I am the next ‘Rakesh Jhunjhunwala' of the crypto world, but life is not easy after all.”

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Unfortunately, his fortune didn't last for long due to the crypto meltdown in April 2021. He lost 90% of his earnings and was left with just Rs. 1 lakh. He couldn't have asked for financial assistance from his parents and he even had to sell his iPhone. And this is when he decided to open a tea stall in Bengaluru by the name of ‘Frustrated Dropout.' His tea stall chain minimises the use of plastic and non recyclable items.

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But the crypto world was not through with him yet. He was surprised when customers first tried to pay for their chai with Bitcoin and he then got the idea for the P2P payments at Marathahalli in Bangalore. This helped his business to grow and now at least 20 new customers a week use cryptocurrency to pay for their Chai on an average. The tagline of his venture is “Chal Chai Peete Hai!” (let's have chai).

Seems like it won't be long before chai stalls are found in the metaverse!

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First Published Date: 22 Sep, 15:41 IST