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Tuesday, March 28, 2023

Former Google CEO Eric Schmidt Starts Investing in Cryptocurrency

Former Google CEO Eric Schmidt Starts Investing in Cryptocurrency – Former Google CEO Eric Schmidt, who has a net worth of $22.8 billion, has revealed that he had invested “a small bit” of money in Cryptocurrency. He went on to say that he considers Web3’s economics “interesting,” as well as the platforms and usage patterns.

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In an interview with CNBC released Thursday, former Google CEO and Chairman Eric Schmidt discussed cryptocurrency investing and Web3.

From 2001 through 2011, Schmidt was the CEO of Google. He remained as executive chairman and technical advisor until 2017 and 2020, respectively. According to the Bloomberg Billionaire Index, his net worth is currently $22.8 billion.

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In terms of his own cryptocurrency investment, he stated that he had put “a small bit” of money into it, without specifying any specific coins. He went on to say that he’s only getting started with cryptocurrency investing.

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Web3 is the most exciting component of blockchain, according to him. He expressed his opinion as follows:

“A new strategy of which allows you to control your own identity without relying on a centralized management is very powerful. It’s attractive and decentralized at the same time.”

“I could remember thinking about decentralization when I was 25, that it would be everything,” he added.

If he were starting out as a software engineer today, the former Google executive said he would prefer to work on AI algorithms or Web3.

Schmidt stated that his interest in Web3 stems from “tokenomics,” or the study of the supply and demand dynamics of cryptocurrencies.

Also Read: Argentinian Tax Agency Supports Creation of Global Crypto Report System to Avoid Evasion

Former Google CEO Eric Schmidt Starts Investing in Cryptocurrency – The former Google CEO elaborated, saying that Web3 might bring new models for content ownership and new ways of rewarding people:

“The economics of Web are fascinating. The platforms are fascinating, as are the usage patterns.” He did note out, though, that it “doesn’t work yet, but eventually will.”

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