Ex-Google CEO Eric Schmidt Begins Investing in Cryptocurrency – Finds Web3 Economics ‘Interesting’ – Bitcoin Featured News

Eric Schmidt, the former CEO of Google who has a net worth of $22.8 billion, reveals that he put “a little bit” of money into cryptocurrency. He added that he finds the economics of Web3 “interesting,” noting that the platforms and usage patterns are interesting.

Ex-Google CEO Eric Schmidt discusses Crypto Investing and Web3

Former Google CEO and President Eric Schmidt spoke about investing in cryptocurrency and Web3 in an interview with CNBC published Thursday.

Schmidt was CEO of Google from 2001 to 2011. He remained CEO until 2017 and a technology advisor until 2020. His net worth is currently $22.8 billion according to the Bloomberg Billionaires Index.

Regarding his investment in cryptocurrency, he revealed that he has invested “a little bit” of money in cryptocurrency, without naming any coins specifically. He further explained that he has just started investing in cryptocurrencies.

The 67-year-old explained that the most interesting part of the blockchain is Web3. He said:

The new model in which you as an individual control who you are, and where you don’t have a central manager, is a very powerful one. It is very seductive and very decentralized.

“I remember that feeling when I was 25 that decentralization would be everything,” he added.

The former Google CEO noted that if he was starting out today as a software engineer, he would want to work on AI algorithms or Web3.

Schmidt explained that his interest in Web3 includes “tokens,” which relate to the supply and demand characteristics of cryptocurrencies.

Noting that Web3 could come up with new models for content ownership and new ways to compensate people, the former Google chief explained:

″[Web3′s] The economy is interesting. The platforms are interesting and the usage patterns are interesting.

But he noted that “it hasn’t worked yet, but it will.”

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Bitcoin, Crypto, Cryptocurrency, Eric Schmidt, Eric Schmidt ai, Eric Schmidt Bitcoin, Eric Schmidt crypto, Eric Schmidt cryptocurrency, Eric Schmidt investment bitcoin, Eric Schmidt web3, Google CEO

What do you think of Eric Schmidt’s comments? Let us know in the comments section below.

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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