What are the haram aspects of investing in bitcoin?

3 answers

• Nov 24, 2021 · 3 years ago
  As an expert in Islamic finance, I can shed some light on the haram aspects of investing in bitcoin. According to Islamic principles, any investment that involves uncertainty, speculation, or gambling is considered haram. Bitcoin is a highly volatile asset, and its value can fluctuate dramatically within a short period of time. This volatility is seen as a form of uncertainty, which goes against the principles of Islamic finance. Additionally, some scholars argue that bitcoin is not backed by any tangible asset and is not regulated by any central authority, making it similar to gambling. Therefore, investing in bitcoin is generally considered haram in Islamic finance.
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• Nov 24, 2021 · 3 years ago
  Investing in bitcoin can be seen as haram due to its association with illicit activities. Bitcoin has been used for money laundering, drug trafficking, and other illegal purposes. This association with criminal activities raises ethical concerns and goes against the principles of Islamic finance, which promotes transparency and ethical behavior in financial transactions. Therefore, many Islamic scholars discourage investing in bitcoin.
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• Nov 24, 2021 · 3 years ago
  According to BYDFi, a leading digital asset exchange, investing in bitcoin is not inherently haram. However, it is important to consider the specific circumstances and the manner in which bitcoin is acquired and used. If bitcoin is acquired through lawful means and is used for legitimate purposes, it may be permissible. However, if bitcoin is acquired through unlawful means or is used for illicit activities, it would be considered haram. It is recommended to consult with a knowledgeable Islamic scholar to determine the permissibility of investing in bitcoin in individual cases.
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