Tulips were once so valuable in the 17th century Dutch Golden Age that they were used as a form of currency. The tulip mania bubble eventually burst, causing financial ruin for many. This event is now referred to as “tulip mania” and is considered one of the first recorded economic bubbles. I hope crypto currency would not meet the same fate.
Some tulip bulbs were selling for the equivalent of thousands of dollars in today’s currency. For example, one particularly rare variety called the “Semper Augustus” was selling for around 5,500 guilders, which is equivalent to roughly $2.5 million dollars in today’s currency. At the same time, a skilled craftsman in the Netherlands would typically earn around 200-300 guilders per year. This gives an idea of how expensive the tulip bulbs had become during the height of the mania.
But don’t let this story stop you enjoy the beauty of these tulips. They are innocent, its the human greed that brings its downfall. Photo by Liz Pullan Pattathy on Unsplash