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An ETF analyst just threw cold water on the "Bitcoin is tulips" crowd.
Eric Balchunas points out something critics conveniently ignore: BTC has been around for 17 years now. Tulip mania? Collapsed in three.
Here's the kicker—Bitcoin weathered seven massive crashes and still clawed back to fresh all-time highs each time. That's not exactly fragile bubble behavior.
Balchunas figures some folks just despise crypto and trot out the tulip comparison to get under believers' skin. But the numbers don't lie. Seventeen years of survival tends to shred that narrative pretty fast.