Bitcoin is a “remarkable cryptographic achievement,” says former Google executive
Former Google CEO and Chairman Eric Schmidt is simply impressed by the architecture on which Bitcoin is built. He believes in crypto. In fact, in our recent article he reveals that he has invested “some” money in it.
A video is now making the rounds in the virtual stratosphere showing Google’s top honcho hailing Bitcoin’s technology as a “remarkable achievement.”
The video was actually a clip from 2014, when Schmidt spoke at the Computer History Museum. In the video, the former Google CEO emphasized Bitcoin’s underlying design – and why it’s important in the modern age.
“Bitcoin is a remarkable cryptographic achievement … The ability to create something that cannot be replicated in the digital world has enormous value,” he said.
Bitcoin is an “amazing” advance, says Schmidt
According to Schmidt, crypto’s basic architecture is… “an amazing advance. A lot of people want to build 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 phases.
The Virginia native served as Alphabet Inc.’s executive chairman from 2015 to 2017 and as a technical advisor from 2017 to 2020, just to name a few of the many other key positions he’s held over the years.
Schmidt made these comments at a time when Bitcoin (BTC) was still fighting 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 perspective on Bitcoin’s technology is consistent with a recent revelation in which he emphasized his interest in the technology behind cryptocurrencies. The position of the 67-year-old former Google CEO can be seen as a significant driver for the future of cryptocurrencies.
The billionaire invests in cryptocurrency
Schmidt did not specify which cryptocurrencies he currently holds, stating that he is “just starting” to invest in them.
Since leaving Google, he has devoted most of his attention to philanthropic endeavors via his Schmidt Futures initiative, funding fundamental research in domains such as biology, energy, and artificial intelligence.
It is noteworthy that the former leader’s crypto progress has accelerated over time. For example, he joined the Chainlink team in 2021 as the company’s strategy consultant. In addition, he has written the book “The Age of AI”, which examines the future of the technology 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
