February 6, 2023

Eric Schmidt, the former CEO and CEO of Google, was impressed by the architecture on which Bitcoin is built. He believes in cryptocurrencies. In fact, in our last article, he revealed that he invested “a little” money in it.

There’s a video now making the rounds in the virtual stratosphere showing top Google officials lauding Bitcoin technology as a “cool feat.”

The video was actually a clip from 2014, when Schmidt spoke at the Computer History Museum. In the video, the former senior Google chief emphasized Bitcoin’s core design – and why it’s so important in the modern age.

“Bitcoin is a great crypto achievement,” he said. “The ability to create something that cannot be replicated in the digital world is enormously valuable.”

Schmidt Says Bitcoin Is An ‘Amazing’ Progress

According to Schmidt, the cryptocurrency infrastructure is… “amazing progress. A lot of people will build their businesses on top of that.”

Schmidt is an American businessman and software engineer who served as the CEO of Google from 2001 to 2011 and oversaw one of the most important stages of the company’s growth.

The Virginia native served as CEO of Alphabet Inc. From 2015 to 2017 and as a technical advisor from 2017 to 2020.

Schmidt made these comments at a time when Bitcoin (BTC) was still struggling for global popularity. Although his views on the bedrock of cryptocurrencies went unnoticed at the time, he helped pave the way for their global recognition.

Schmidt’s perspective on Bitcoin technology aligns with a recent revelation in which he confirmed his interest in the technology behind cryptocurrencies. The position of the 67-year-old former CEO of Google may be seen as an important driver for the future of cryptocurrency.

Billionaire investing in cryptocurrency

Schmidt did not specify which cryptocurrencies he currently owns, stating that he had “just started” investing in them.

Since leaving Google, he has devoted most of his attention to philanthropic endeavors through his Schmidt Futures initiative, through which he funds basic research in areas such as biology, energy, and artificial intelligence.

It is worth noting that the crypto developments made by the former CEO have accelerated over time. For example, he joined the Chainlink team in 2021 as a strategic advisor to the company. In addition, he is the co-author of the book The Age of Artificial Intelligence, which deals with the future of the technology industry.

Schmidt was ranked 54th in 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

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