© Reuters.
To compare (BTC) to the Dutch tulip bulb bubble is to perpetuate a fallacy. Technology evolves more rapidly than nature, and decentralized networks have more financial utility than a bouquet. Bitcoin is a technology, tulips are plants, and no discerning person would take the comparison much further.
Tulipmania, a 17th-century market bubble in which the price of the flower bulb increased due to speculation by Dutch investors, resulted in a major crash. Prices exceeded the average annual income of the time by six times. The rarest of bulbs became among the most expensive items on the planet.
Jonathan Libby is the CEO and founder of Steady State. Between enjoying memes and researching the global opportunities that crypto has to offer, Jonathan is actively building a new standard for DeFi insurance. After spending the better part of his college career at the University of Maine researching crypto coverage and yield farming, Jonathan has also spent time aiding and educating the United States Senate about crypto and alternative solutions from time to time.
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