In a recently emerged video, former Google CEO Eric Schmidt praised Bitcoin’s (BTC) technology as a big crypto success.
when speaking at the Computer History Museum in 2014, Schmidt acknowledged the significance of Bitcoin’s technology but voiced pessimism over the asset’s potential as a currency.
He claimed that Bitcoin’s technological infrastructure might one-day power other enterprises. Schmidt made the statements when Bitcoin’s global popularity was still low, and his stance may be considered a significant boost to the asset’s prospects.
“Bitcoin is a wonderful breakthrough in cryptography,” he stated on a panel. “The potential to produce something unique in the digital age has tremendous worth.” The bitcoin architecture, literally the capacity to create unreplicable ledgers, is a remarkable accomplishment.”
Schmidt’s fascination with crypto
Schmidt’s perspective on Bitcoin’s technology is consistent with a recent disclosure in which he emphasised his interest in the technology behind cryptocurrencies. He expressed his current fascination with Web3. As stated by Schmidt:
The former Alphabet technical adviser acknowledged that his interest in Web3 centred on tokenomics, a mechanism that affects digital currencies’ unique supply and demand characteristics.
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 strategic adviser. In addition, he co-wrote the book “The Age of AI,” which examines the technology industry’s future.