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Ex-Google CEO called Bitcoin (BTC) a remarkable cryptographic achievement in a resurfaced 2014 video

In a resurfaced video, Eric Schmidt, ex-Google CEO, is seen touting Bitcoin (BTC), the largest cryptocurrency by market cap, as a remarkable cryptographic feat.

Speaking at the Computer History Museum in 2014, Schmidt praised the technology powering Bitcoin (BTC). He said that the fact that the asset cannot be duplicated in the digital world makes it good for businesses and explained that many of them will build on it in the future.

Also Read: Michael Saylor: Bitcoin (BTC) Added Billions of Dollars to MicroStrategy’s Balance Sheet

Eric Schmidt remarked:

“Bitcoin is a remarkable cryptographic achievement… There is tremendous value in the ability to create something that cannot be duplicated in the digital world… The Bitcoin architecture, literally the ability to have these ledgers that cannot be replicated, is amazing progress. A lot of people will do business based on that.”

It should be noted that Schmidt made these priceless remarks when Bitcoin was still struggling for global acceptance. Though his stance on flagship crypto seemed unnoticed at the time, he’s one of those who paved his way to global notoriety.

Also Read: Binance CEO Highlights What Would Drive Bitcoin’s (BTC) Next Huge Rally

Eric Schmidt’s growing interest in blockchain technology

In an interview with CNBC in April 2022, Eric Schmidt said he had invested a little money in cryptocurrencies. However, he explicitly stated that he was more interested in Web3.

Schmidt said:

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

Schmidt, who served as Google’s CEO between 2001 and 2011, said if he started out as a software developer today, he would have focused on artificial intelligence (AI) algorithms, or Web3, CNBC reported.

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