Bitcoin is not tulip mania! Bloomberg Analyst: 17 Years of Resilience Clearly Sets It Apart

Recently, Bitcoin’s performance has been relatively weak. After reaching a historic high of $126,000 in early October, it once plummeted 36%. Many critics believe that Bitcoin is like the tulip mania of the past, possibly never to recover after a crash. However, Bloomberg analyst Eric Balchunas used a highly evocative tulip price chart to explain why he would not compare Bitcoin to tulips.

Eric Balchunas: Bitcoin and Tulip Mania Are Different

Bloomberg analyst Eric Balchunas used a highly evocative tulip price chart to explain why he would not compare Bitcoin to tulips.

Tulips soared and collapsed in just three years, as if knocked out by a single punch. In contrast, Bitcoin has survived six or seven heavy blows and has still managed to return to all-time highs, surviving for 17 years. Its longevity alone is enough to distinguish it from tulips, not to mention that Bitcoin has increased by about 250% over the past three years and rose 122% last year.

Looking back at Bitcoin’s performance over the past year, in fact, (at least so far) it has only shed last year’s extreme gains. It went up 122% last year, so even if Bitcoin ends up flat or slightly down in 2025, it would still maintain an annual growth rate of about 50%.

Here’s why I personally would not compare bitcoin to tulips (no matter how bad the selloff). Tulips rose and collapsed in like 3yrs. Punched once in face and KO’d. Bitcoin has comeback from like 6-7 haymakers to reach ATHs and has survived 17yrs. The endurance alone warrants… pic.twitter.com/uUhUjxyh2M

— Eric Balchunas (@EricBalchunas) December 6, 2025

Gold and Bitcoin Are Both Non-Productive Assets—Some People Just Hate BTC

Some people argue that both Bitcoin and tulips are non-productive assets. But Balchunas counters that gold, Picasso’s paintings, and rare stamps are also non-productive assets, yet most people wouldn’t compare them to tulips! He believes that not all assets need to be “productive” to have value. As a non-productive asset, Bitcoin is similar to gold or art—its value comes from scarcity and durability, not yield. The bias of these critics fuels the ongoing debate rather than objective analysis.

Even aside from this, tulips only experienced mania and collapse, but did not disappear. Moreover, the tulip bubble gave rise to the Netherlands’ global flower industry—the export value of the tulip industry is highly symbolic and representative in flower exports and has become a highlight for tourism.

Balchunas believes the main issue is that some people just hate Bitcoin and want to provoke those who like it—and this situation may never change.

This article Bitcoin Is Not Tulips! Bloomberg Analyst: 17 Years of Resilience Sets It Apart first appeared on Chain News ABMedia.