Over the past few months, cryptocurrency has been a hot topic in the tech and investment world. Across the world, people hold mixed opinions on the legitimacy and longevity of these entirely virtual forms of currency. What do students and faculty at Freedom think about this controversial currency?

In order to understand what people think of this new technology, you must first know what it is.

Cryptocurrency is defined as a digital currency in which algorithms are performed to regulate and verify transactions of the currency itself, essentially a virtual currency entirely independent of banks and changing in value by the hour.

As a result of the constantly changing nature of cryptocurrency, many people view them solely as investments, such as stocks and bonds.

Avery Penalvert, 12, said, “I initially became interested in crypto because I believed it was a good investment and a potential way to make a profit.”

When people hear cryptocurrency, Bitcoin comes to mind, since it is the most valued cryptocurrency on the market. However, there are thousands of cryptocurrencies, each with ranging values.

“Regarding the future of cryptocurrency, I think that, eventually, other forms of crypto will become more valuable than the current leader, Bitcoin,” Penalvert added after witnessing the $6,000 drop in value of Bitcoin this month.

The biggest concern with this experimental form of currency is its application.

Mr. Tillman, AP and Honors Economics teacher shared his thoughts.

“As it stands right now, cryptocurrency is just an investment until it becomes more acceptable [in terms of purchasing],” Tillman stated. “As society is becoming more composed of electronic currencies, cryptocurrency is an obvious next step. However we haven’t quite figured out how to perfect it yet.”