ー英会話講師の英語日記ー　札幌英会話スクールSTEP UP（札幌駅、大通駅徒歩５分）

21st Century Tulip Mania?

2018年2月13日 (火)

Have you ever heard about tulip mania? It was a period in 17th century Dutch history when tulips were very, very fashionable. Because they were so popular, the tulip market grew at extraordinary rates. Many tulip growers bred new varieties of flowers. Some were so sought after that people spent their entire fortunes on collecting a handful of tulip bulbs. Tulip buying and selling became a bubble market. And like all bubbles, this market eventually burst.

Bubble markets occur when the value of a popular item skyrockets to abnormally high prices. These days, many people believe that Bitcoin and cryptocurrency is a kind of bubble market. Already, we’ve seen the value of a single Bitcoin (BTC) go from a few dollars to $20,000. Currently, the price of a coin is around $9,000. Many people are hoping the price drops lower so they can buy a coin (or more likely a fraction of a coin) before the value goes up again. Some experts believe the value could climb beyond $20k this year. Others are not so optimistic.

Have you studied the emerging cryptocurrency market? Do you think it is here to stay, or will it fall by the wayside? Tulips are still extremely popular around the world. Perhaps cryptocurrency will be as well. With companies like BicCamera accepting Bitcoin as a valid form of payment, and banks like MUFJ readying to launch their own cryptocurrency exchange, it seems like it’s all still early days.