Bitcoin and Tulipmania

Bitcoin made new highs, investors made a fortune. The only explanation is their unquestioned brilliance. Have we seen this before? Investor euphoria and asset prices in the stratosphere? Yes indeed, beginning with Tulipmania in the 17th century. Then there was the subprime meltdown less than a decade before, not the mention dozens of examples, large and small, in between.

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© 2016 Gary Giroux