Martina
Wed Jul 17 2024
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6 answers
1809
Is bitcoin more Halal than modern fiat money?
In the discussion surrounding the halal status of various financial instruments, the question of whether Bitcoin holds a more favorable position compared to modern fiat money arises. Could Bitcoin, as a decentralized, borderless, and finite digital currency, be considered more in line with the principles of halal investing? On the one hand, the lack of central control and the finite nature of Bitcoin could be seen as a positive, aligning with the prohibition of riba, or interest, in traditional Islamic finance. However, the volatile and speculative nature of the cryptocurrency market also raises concerns regarding its compatibility with the principles of halal investing. Therefore, the question remains: is Bitcoin truly more halal than the modern fiat money system we have today?
