The permissibility of Bitcoin and other cryptocurrencies in Islam is a debated topic among Islamic scholars, with no universal consensus. Some scholars consider it permissible, particularly for legitimate transactions and investments, while others deem it impermissible due to concerns about speculation, lack of intrinsic value, and potential use in illegal activities.
4 (Permissible) for Bitcoin being Halal:
1. Valid Form of Property:
Some scholars view cryptocurrencies as a valid form of property, similar to stocks or other digital assets, and therefore permissible to buy and sell.
2. Medium of Exchange:
Bitcoin can function as a medium of exchange, similar to traditional currencies, and therefore can be considered halal if used for permissible transactions.
3. Decentralized Nature:
Some scholars see the decentralized nature of Bitcoin as a positive aspect, aligning with Islamic principles of fairness and transparency.
4. No Riba:
Bitcoin transactions do not inherently involve interest (riba), which is prohibited in Islam.
