In 1623, just as Tulip Mania took hold in the Netherlands, one bulb sold for 1000 guilders.
An average Dutch worker earned an annual income of merely 300 guilders.
Two years later a tulip bulb fetched 3000 guilders.
By 1636 tulip bulbs sold for 5500 guilders.
By 1637 they were, practically, worthless.
With Bitcoin on the ropes; are we in the midst of something similar to the 17th century example above?
In September 2014 one Bitcoin cost $387.
Today it’ll set you back $4500, representing 137% annual growth (in US dollars).
The Money Show’s Bruce Whitfield interviewed RMB Head of the Blockchain Initiative Farzam Ehsani.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Be very careful to understand the difference between cryptocurrencies and ICOs.— Farzam Ehsani
The asset class overall is expected to increase tremendously.— Farzam Ehsani
Traditional financial institutions simply can’t compete.— Farzam Ehsani
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
South Africa is at risk of becoming irrelevant, warns The Money Show’s Bruce Whitfield from the World Economic Forum in Davos.
Andy Rice shares his choice of advertisements that were heroes and zeros this week.
Deep Fakes and bigwigs: Bruce Whitfield interviews several captains of industry at Davos 2020.
A field sales technology provider based in Stellenbosch has secured an investment worth R435-million from an American investor.
Shoprite is now using plastic returned to its distribution centres to produce 100% recycled and recyclable plastic shopping bags.
According to police statistics, kidnapping has increased by a 139% over the past decade.
North West police spokesperson Colonel Adéle Myburgh says an initial autopsy on Enoch Mpianzi was conducted this morning.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.