“Bitcoin is a remarkable achievement in cryptography”

The famous statement from 2014 by former Google CEO Eric Schmidt, “Bitcoin is a remarkable feat of cryptography”, has resurfaced online.

Google’s Eric Schmidt and his statements about Bitcoin

It was 2014, then Eric Schmidtformer CEO and chairman of Google, had done his comments about Bitcoin during his speech at the Computer History Museumand right now the video clip is again circulating online.

Previously #Google says managing director and chairman of the board Eric Schmidt #Bitcoin is a “remarkable cryptographic achievement.”pic.twitter.com/gb2kaWRrCv

— Watcher.Guru (@WatcherGuru) 7 August 2022

“Former Google CEO and Chairman Eric Schmidt Says Bitcoin Is a Remarkable Cryptographic Achievement.”

Among other statements, Schmidt stressed his interest in the architecture and design behind Bitcoin.

Not only that, Schmidt also gave a future perspectiveand says it in his opinion BTC “is an amazing advance. Many people will build businesses on top of it.

Schmidt is an American businessman and software engineer who served as CEO of Google from 2001 to 2011 and oversaw one of the company’s most important growth phases. He remained as executive chairman until 2017 and as technical advisor until 2020. Schmidt currently has one net worth of $20 billion, making him the 70th richest person in the world, according to Forbes.

Eric Schmidt and his investment in BTC and crypto

Schmidt had stated during April this year, that he was a crypto investor although he will highlight how his interest was more dedicated to blockchain and Web3, rather than virtual currencies.

Schmidt allegedly did not mention any specific cryptocurrency he currently owns, only emphasizing that he just “started” investing in cryptocurrencies.

Since Schmidt was more interested in Web3, he had described it as follows:

“A new model [of the internet] where you as an individual [can] controlling your identity, and where you don’t have a centralized leader, is very powerful. It’s very seductive and it’s very decentralized. I remember that feeling when I was 25 that decentralized would be everything”.

Since leaving Google, Schmidt has devoted most of his time to philanthropic endeavors throughout his Schmidt Futures initiative, where he funds basic research in fields such as artificial intelligence, biology and energy.

Supports Bitcoin and crypto, but unlike the metaverse

Apparently, despite his favorable attitude towards Bitcoin and cryptocurrencies with the prospect of decentralization and Web3, Schmidt appears to be opposed to the metaverse.

During the Aspen Ideas Festival event in Colorado, the former Google CEO expressed everyone his skepticism about the metaverse and Facebookwhich since October 2021 is called Meta precisely to mark its position in this regard.

Essentially, Schmidt says that there is currently no clear definition of the term metaverse and how it will affect people’s lives.