Bitcoin Is A ‘Remarkable Cryptographic Achievement,’ Ex-Google CEO Says

Former Google CEO and chairman Eric Schmidt is simply impressed by the architecture that Bitcoin is built upon. He believes in the crypto. In fact, in our recent article, he reveals he’s invested “a little bit” of money into it.

A video is now making the rounds in the virtual stratosphere showing the Google 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 big boss underscored Bitcoin’s underlying design – and why it is important in the modern age.

“Bitcoin is a remarkable cryptographic achievement… The ability to create something which cannot be replicated in the digital world has enormous value,” he said.

Bitcoin Is An ‘Amazing’ Advancement, Schmidt Says

According to Schmidt, the crypto’s fundamental architecture… “is an amazing advancement. Lots of people will 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 significant growth phases.

The native of Virginia served as Alphabet Inc.’s executive chairman from 2015 to 2017 and as Technical Advisor from 2017 to 2020, just to mention a few of the numerous other key positions he has held over the years.

Schmidt made these comments at a time when Bitcoin (BTC) was still battling 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 might be viewed as a significant impetus for the future of cryptocurrencies.

The Billionaire Invests In Cryptocurrency

Schmidt did not specify which cryptocurrencies he presently possesses, stating that he is “just beginning” to invest in them.

Since departing Google, he has devoted the majority of his attention to philanthropic endeavors via his Schmidt Futures initiative, through which he funds fundamental research in domains such as biology, energy, and artificial intelligence.

It is noteworthy that the former executive’s crypto advancements have accelerated over time. For example, he joined the Chainlink team in 2021 as the company’s strategy consultant. In addition, he 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 wealthiest 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