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Nov 17, 2021

[Ans] Where were tulips once used as a form of currency?

Step 1 : Introduction to the question "Where were tulips once used as a form of currency?"



Once upon a time in Holland, tulips were used as a form of currency. During the 1620s, tulips reached such a state of popularity in Holland that they actually created one of the world’s first economic bubbles. During what is known as the Dutch Golden Age, a single Viceroy tulip bulb had a value equivalent to $1,250 in current American dollars. “Tulipmania”, as it became known, didn’t last, and at some point in the mid-1630s, people questioned the value of paying a fortune for a flower that would inevitably die, and subsequently, the market crashed.




Step 2 : Answer to the question "Where were tulips once used as a form of currency?"



Holland:


Once upon a time in Holland, tulips were used as a form of currency. During the 1620s, tulips reached such a state of popularity in Holland that they actually created one of the world’s first economic bubbles. During what is known as the Dutch Golden Age, a single Viceroy tulip bulb had a value equivalent to $1,250 in current American dollars. “Tulipmania”, as it became known, didn’t last, and at some point in the mid-1630s, people questioned the value of paying a fortune for a flower that would inevitably die, and subsequently, the market crashed.


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