Former Google CEO and Chairman Eric Schmidt was impressed by the architecture on which Bitcoin is based. He believes in cryptocurrencies. In fact, in our most recent article, he revealed that he invested “a little” in it.
A video is now playing in the virtual stratosphere showing Google’s top mogul praising Bitcoin’s technology as a “remarkable achievement.”
This video is actually a video of Schmidt giving a speech at the Computer History Museum in 2014. In the video, the former Google boss highlights Bitcoin’s fundamental design — and why it matters in modern times.
“Bitcoin is an amazing cryptographic achievement…the ability to create something that cannot be replicated in the digital world has enormous value,” he said.
Bitcoin is an ‘amazing’ progress, says Schmidt
According to Schmidt, the basic architecture of cryptocurrencies… “is an amazing advance. A lot of people will build their businesses on top of that.”
Schmidt is an American businessman and software engineer who served as Google’s CEO from 2001 to 2011 and oversaw one of the company’s most important growth stages.
The Virginia-born was executive chairman of Alphabet Inc. from 2015 to 2017 and a technology advisor from 2017 to 2020.
When Schmidt made these comments, Bitcoin (BTC) was still vying for global popularity. Although his views on the cornerstone cryptocurrency went unnoticed at the time, he helped pave the way for its global recognition.
Schmidt’s take on Bitcoin technology is in line with a recent revelation in which he highlighted his interest in the technology behind the cryptocurrency. The 67-year-old former Google CEO’s job could be seen as an important driver for the future of cryptocurrencies.
Billionaires invest in cryptocurrencies
Schmidt did not specify which cryptocurrencies he currently owns, saying he is “just starting” to invest in them.
After leaving Google, he devoted much of his energy to philanthropy through the Schmidt Futures program, through which he funded basic research in fields such as biology, energy, and artificial intelligence.
Notably, the former executive’s crypto advancements have accelerated over time. For example, he joined the Chainlink team in 2021 as a corporate strategy advisor. Additionally, he co-authored the book The Age of Artificial Intelligence, which explores the future of the tech industry.
As of April 2022, Schmidt was ranked 54th on the Bloomberg Billionaires Index 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