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read the Modern View section of the wiki page. tldr is it's massively over stated and the actual impact was completely negligible. Not quite the same as the 2 trillion dollars global crypto market today. Any comparison of the two is just not done in good faith.

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That's more true when taken in isolation, but I read about it as part of "Extraordinary Popular Delusions and the Madness of Crowds" by Charles MacKay as illustrative of crowd manias, mob mentalities, town scares and herd stampedes, not necessarily as great financial disasters in history. There are plenty of those that didn't involve the madness of crowds.

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