Bitcoin has been around for 17 years, and in that time, it's proven to be more than just a flash in the pan. ETF expert Eric Balchunas thinks the whole 'tulip mania' comparison is getting old.
What's the 'Tulip Mania' Thing Anyway?
For those who don't know, 'tulip mania' refers to a time in history when people were paying crazy prices for tulip bulbs. It was a big bubble that eventually burst. Some people like to compare Bitcoin to this, saying it's just a fad that will eventually disappear.
But Here's the Thing...
Bitcoin has been through a lot in its 17 years. It's had its ups and downs, but it always manages to bounce back. This has led Balchunas to argue that the 'tulip mania' comparison just doesn't hold up anymore.
- Bitcoin has a 17-year track record of resilience
- It's recovered from multiple downturns
- The 'tulip mania' comparison is outdated
