Former Google CEO and Chairman Eric Schmidt is simply in awe of the architecture Bitcoin is built on. He believes in crypto. In our recent article, he even reveals that he invested “a little bit” of money in it.
A video is now circulating in the virtual stratosphere showing the Google executive hailing Bitcoin’s technology as a “remarkable achievement”.
The video was actually a clip from 2014, when Schmidt was speaking at the Computer History Museum. In the video, the former big boss of Google underlined the underlying design of Bitcoin – and why it matters in the modern age.
“Bitcoin is a remarkable cryptographic achievement… The ability to create something that cannot be replicated in the digital world has tremendous value,” he said.
Bitcoin is an ‘amazing’ advancement, says Schmidt
According to Schmidt, the fundamental architecture of crypto is… “an astonishing advancement. A lot of people will build a business on top of that.”
Schmidt is an American businessman and software engineer who served as the CEO of Google from 2001 to 2011, overseeing one of the company’s key growth phases.
The Virginia native was executive chairman of Alphabet Inc. from 2015 to 2017. and from 2017 to 2020 as a technical advisor.
Schmidt made these comments at a time when Bitcoin (BTC) was still vying for global popularity. While his views on the cornerstone of cryptocurrency went unnoticed at the time, he helped pave the way for its global recognition.
Schmidt’s perspective on Bitcoin’s technology matches a recent revelation in which he highlighted his interest in the technology behind cryptocurrencies. The position of the 67-year-old former Google CEO can be seen as a major boost for the future of cryptocurrencies.
The billionaire invests in cryptocurrencies
Schmidt has not specified which cryptocurrencies he currently owns, stating that he is “just starting” investing in them.
Since leaving Google, he has devoted most of his attention to philanthropic efforts through his Schmidt Futures initiative, which funds basic research in areas such as biology, energy and artificial intelligence.
It is noteworthy that the crypto developments of the former executive have accelerated over time. For example, in 2021 he joined the Chainlink team as a strategy advisor to the company. He also co-wrote the book ‘The Age of AI’, which examines the future of the tech industry.
Schmidt is ranked 54th on the Bloomberg Billionaires Index list of the world’s richest individuals as of April 2022, with an estimated net worth of $25.1 billion.
BTC total market cap at $439 billion on the weekend chart | Source: TradingView.com Featured image from Techzine.nl, chart from TradingView.com