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Eric Schmidt said that Bitcoin is a remarkable cryptographic achievement because it allows for something to be created that cannot be easily copied digitally. The technology that powers Bitcoin, called blockchain, allows transactions to be recorded in a way that makes them nearly impossible to fake or duplicate.
This gives Bitcoin enormous value, according to Eric Schmidt, because it solves the problem of digital copies by creating scarcity and verifiability in the digital world for the first time. The fact that Bitcoin has value that cannot be duplicated well is what makes it such an important technological achievement.