Bitcoin (BTC) is the 21st century’s version of tulip mania. That’s the argument that cryptocurrency cynics have lobbed at BTC since its earliest years in circulation. But, more and more evidence is showing that crypto assets, especially Bitcoin, are much more than a flash in the pan, and will instead be a revolutionary technology that will change paradigms. Let’s look at the argument for this thesis.
Due to their lack of viable uses, the tulip bubble of years gone by (1636 and 1637) has long been touted as the epitome of speculative phenomena. For those unaware, during the years 1636 and 1637, the value of tulip bulbs, which, of course, have no use in consumers’ day-to-day lives, exploded, rising parabolically from zilch to sky-high levels. Sound familiar?