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In 1637, many Dutch people spent their savings to purchase a few tulip bulbs or simply obtained paper certificates for tulips that had not yet been planted. All of this began with the popularity of tulips in the Netherlands in the early 17th century. Flower traders faced a serious problem: demand exceeded supply. As a result, the first futures certificates for goods to be manufactured in the future were issued in history. Of course, trading quickly followed these certificates, causing the price of tulips to skyrocket, and the tulip business reached its peak. However, a flower merchant later failed to receive the promised payment, and this news quickly spread, leading to the bursting of the bubble. After that, more bubbles burst.