In a way yes, but it is limited - 21 million max, ever. On the other hand, the federal reserve banks can basically create as much money as they want, as long as it is a loan. That's right, they "loan" money to commercial banks and just create digital money on their computers when they do it. They are then paid back, sometimes within 24 hours (LIBOR, the interest rate we have kept so low that it keeps all other interest low -- except credit cards, but that is another story), but that new money is out there now. Cryptocurrency is (usually) constrained in its rate of creation and limited overall supply, leading to less fear of inflation and meaninglessness. It also usually requires a means of creation (mining/POS/etc) that has some cost and/or strict requirements that we assign some value to. In the end all that cryptocurrency lacks is a government's backing (trust), and hopefully we are all moving to a time when we can trust in each other and a system, not a government's goodwill.