Bitcoin: Taking A Page From History

 | Dec 08, 2017 12:15AM ET

Some of you know that I wrote a history book called Panic, Prosperity and Progress . The first chapter of that book discusses the “Tulipmania” of nearly 500 years ago, and since it seems no one can conjure up a better analogy for the Bitcoin mania going on than the aforementioned tulips, I thought I’d share a page from my book with some highlights. I thought of this particularly since Bitcoin futures (!!!) start trading within days, just like tulip futures were invented all those centuries ago.