Former Google CEO Eric Schmidt Starts Investing in Cryptocurrency — Finds Web3 Economics "Interesting"
Eric Schmidt, a former Google CEO whose net worth is $22.8 billion, reveals that he has put “a little bit” of money into cryptocurrency. He added that he finds Web3’s economics “interesting,” noting that the platforms and the use patterns are interesting. Ex-Google Chief Eric Schmidt Discusses Crypto Investing and Web3
Former Google CEO and Chairman Eric Schmidt talked about cryptocurrency investing and Web3 in an interview with CNBC, published Thursday.
Schmidt served as the CEO of Google from 2001 to 2011. He stayed on as executive chairman until 2017 and technical advisor until 2020. His net worth is currently $22.8 billion according to the Bloomberg Billionaire Index.
Regarding his own crypto investment, he revealed that he has invested “a little bit” of money into cryptocurrency, without naming any coins specifically. He further clarified that he’s just getting started investing in crypto.
The 67-year-old explained that for him, the most interesting part of blockchain is Web3. He opined: A new model where you as an individual control your identity, and where you don’t have a centralized manager, 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,” he added.
The former Google executive noted that if he were starting out today as a software engineer, he would want to work on AI algorithms or Web3.
Schmidt clarified that his interest in Web3 involves “tokenomics,” which concerns the specific supply and demand characteristics of cryptocurrencies.
Noting that Web3 could come with new models for content ownership and new ways of compensating people, the former Google boss elaborated: ″[Web3′s] economics are interesting. The platforms are interesting and the use patterns are interesting.
However, he pointed out that it “doesn’t work yet, but it will.” Tags in this story Bitcoin, Crypto, Cryptocurrency, Eric Schmidt, Eric Schmidt ai, Eric Schmidt bitcoin, Eric Schmidt crypto, Eric Schmidt cryptocurrency, Eric Schmidt investing bitcoin, Eric Schmidt web3, google ceo
What do you think about Eric Schmidt’s comments? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency FEATURED | 1 day ago Grayscale Investments Plans European Expansion FEATURED | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGlobal Investment Bank Goldman Sachs Offers Its First Bitcoin-Backed Loan Next articleLBank Exchange Will Launch Innovation Zone for Better User Experience Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether