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However, comparing Bitcoin with tulips reveals that tulips fulfill only the store of value function. Tulips are commodities, like stocks and. In September Jamie Dimon, CEO of JPMorgan said that Bitcoin is a fraud �worse than tulip bulbs.� Some prominent investors have compared. Yes, merchants really did engage in a frantic tulip trade, and yes they paid incredibly high prices for some bulbs. And when a number of.

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Tulip mania reached its peak during the winter of �37, when some contracts were changing hands five times. In a short time it became the most advanced shipbuilding nation in the world and developed large naval, fishing, and merchant fleets. Other economists believe that these elements cannot completely explain the dramatic rise and fall in tulip prices. These fluctuations have started to have major impacts on conventional markets such as the stock markets. Public Choice.