It is designed to have properties similar to currency. So yes, it is money technically. But from a legal point of view this is less clear with some countries treating them as securities instead. And from a practical point of view the high transaction cost, slow throughput, and big exchange rate fluctuations make crypto currency unusable for day to day usage. However, this can change. Proof of stake and other approaches can fix the technical issues and some countries are further than others with legislation.