We’ve heard of people going crazy for the latest gadgets, stocks, or cryptocurrency. But in the 1630s, it was tulips that fueled an economic frenzy in the Netherlands. Tulip Mania, as it became known, is one of history’s most fascinating examples of a speculative bubble and a stark reminder that financial manias are often less about the real value of things and more about wild, unsustainable speculation. Tulips, native to Central Asia, arrived in Europe in the 16th century. Their vibrant colors and unusual shapes captivated the Dutch, particularly rare varieties with streaks or flame-like patterns known as “broken bulbs”. These broken tulips weren’t due to special breeding techniques but a plant virus that, quite unpredictably, created stunning visual effects. Tulips quickly transformed from exotic flowers into objects of intense desire. Wealthy merchants, eager to flaunt their status, competed to own the rarest and most beautiful blooms. Demand soared, and, as with any scarce commodity, prices followed.