On December 17, Bitcoin prices soared over $19,200, an all time high. Bitcoin is a worldwide currency system. It has no owner and no third party; it is simply transferred from one person to another.

The premise of Bitcoin being a decentralized currency has rendered it “untouchable” by any nation-state. The legal status of Bitcoin is yet to be determined or is changing constantly in many countries.

Many see Bitcoin as an outlet to escape tax; however, it does have a dark side. Bitcoin is anonymous, which makes it a favorite among the young criminal generation. Over the past couple of years, there has been a massive surge in different hacking and other ransom worthy attacks, all asking for Bitcoin as “ransom.”

Many say Bitcoin is in an “economic bubble.” This is when the price exceeds the intrinsic or actual value of an asset. When asked, Portsmouth High School Student Ian Stromski (12) said Bitcoin is like, “Nothing he has ever invested in.” Although he only put in a relatively small amount of money, Bitcoin is “fascinating to watch.”

This makes people uneasy about the thought of their money invested in  something that has no predictable future; however, the reward can offer a risk worth taking.