Were Tulips Really The Bitcoin of the 1600s?


Dutch National Tulip Day Kicks Off Tulip Season, 2015. Michel Porro / Getty Images

In the 1600s, residents of the Dutch Republic were -- according to the story -- absolutely bonkers for tulips. A market sprang up around the tulip trade, and people began paying in advance for tulip bulbs, negotiating increasingly extravagant financial agreements and, in some cases, even using tulips as currency. This Tulipmania is often presented as the first economic boom and bust... but how accurate is that claim? What really happened? Join Ben and Noel as they separate the fact from fiction.