How to read a file into a variable in shell?

Question

In cross-platform, lowest-common-denominator sh you use:

#!/bin/sh
value=`cat config.txt`
echo "$value"

In bash or zsh, to read a whole file into a variable without invoking cat:

#!/bin/bash
value=$(<config.txt)
echo "$value"

Invoking cat in bash or zsh to slurp a file would be considered a Useless Use of Cat.

Note that it is not necessary to quote the command substitution to preserve newlines.

See: Bash Hacker’s Wiki – Command substitution – Specialities.