The tulip bubble and bust isn't what it's made out to be
Anyone who has spent any time in a market has heard the story of Dutch tulip bulb prices. A frantic craze gripped the entire nation; people sold everything for tulip bulbs and it all ended in tears.
It's the greatest lesson against falling in love with a trendy asset.
Unfortunately, it didn't happen the way we thought.
"I always joke that the book should be called 'Tulipmania: More Boring Than You Thought,'" says Goldgar, a professor of early modern history at King's College London. "People are so interested in this incident because they think they can draw lessons from it. I don't think that's necessarily the case."
There was speculation, but it was within the higher echelons of Dutch society. There were problems, but no one went bankrupt.
Over time, like any great story, it was exaggerated. Check out the story here.
So keep buying that Bitcoin, I guess.
