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Actually the quotes are not necessary for the assignment:
value=$(cat file1.txt)


--
or if it is always just one line:
read value < file1.txt

or

IFS= read -r value < file1.txt
to...

Try this:
value="$(cat file1.txt)"
echo "${value}"

Quoting is essential - read jims post carefully.
...
echo "$updatedid"
will show the asterisks.
Another way to solve the problem:
echo "5339087" |tr '[:print:]' '*'

No need to use expr, try this instead:-
date -d'+1 day' +"%Y%m%d"
20121205
date -d'-1 day' +"%Y%m%d"
20121203

Modify the format as per your requirement.

-t "." this option stands for identifying delimiter and here its dot
-k3.1,3.4n "k start,stop" stands for field to start and stop at...first am sorting on years which happens to be 3rd column..so...

You can do it with the 'sort' command:
$ sort -k 1.7n,1.10n -k 1.4n,1.5n -k 1.1n,1.2n -k 2.1n,2.2n -k 2.4n,2.5n -k 2.7n,2.8n t
20.03.2012 08:56:24 CPUser: xxxxxxx, billedAfterStatus: Active...

For above input, you can try the below command:-

sort -t'.' -k2.2 -k1.2 file

It seems that grep is a built-in to your shell. There's no way otherwise that it would know that the file to search was also the target of redirection.

I just executed the original example find...

Slightly different, without a loop:

$ echo "abcd234234234"| awk '{c=$1; gsub(/[a-z0-9]/,"*"); $1=c; print; }' FS= OFS=
a************