Anything can be used for money, but some things are better as money than others. The properties that make something good as money (durability, fungibility, transportability, verifiability, scarcity) apply well to both crypto and precious metal. They do not apply well to tulips. In particular, they are not durable since they rot quickly, and they are not particularly scarce, so why would I work for tulips when I can easily pick / grow my own?
Anything can be used for money, but some things are better as money than others. The properties that make something good as money (durability, fungibility, transportability, verifiability, scarcity) apply well to both crypto and precious metal. They do not apply well to tulips. In particular, they are not durable since they rot quickly, and they are not particularly scarce, so why would I work for tulips when I can easily pick / grow my own?
...it was a "color/variety" craze....
Similar mass psychology dynamics, different economic fundamentals.