- Former Google CEO Eric Schmidt said he invested “a little bit” of money into crypto.
- Schmidt hasn’t revealed the name of any coins he invested in.
- He pointed out that Web3 economics are ‘interesting’ and it will work soon.
Former Google CEO and Chairman Eric Schmidt discussed investing in cryptocurrency and Web3 in an interview last Thursday.
According to an interview with CNBC, Schmidt disclosed that he invested “a little bit” of money into cryptocurrency. Yet, he emphasized that Web3 is the most interesting part of blockchain.
The 67-year-old served for 10 years as the CEO of Google, from 2001 to 2011. He then remained with the company as an executive chairman until 2017 and technical advisor until 2020. According to the Bloomberg Billionaire Index, he presently has a net worth of $22.8 billion.
Schmidt hasn’t revealed the name of any coins he invested in specifically. He explained that he just started to get a grasp on investing into cryptocurrency.
The former Google executive expounded that Web3, for him, is the most interesting part of blockchain. He said:
“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.”
In addition, he said he remembers the “feeling when I was 25,” where “decentralized would be everything.” He also mentioned that he would have worked on AI algorithms or Web3 if he were starting out today as a software engineer.
He explained that his interest in Web3 entails tokenomics. Specifically, this refers to the relationship of the supply and demand of cryptocurrencies. Stated that Web3 could come with new models for content ownership and new ways of compensating people.
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