Is Bitcoin Halal? A Shariah Analysis

Free research paper into Shariah permissibility of Bitcoin, cryptocurrency, and blockchain.

Read the Working Paper (PDF)


Shariah Analysis of Bitcoin Cryptocurrency and Blockchain

Shariah Analysis of Bitcoin Cryptocurrency and Blockchain

Working Paper by Mufti Muhammad Abu Bakar


What's Inside?

  • What is Money?
  • How does Bitcoin and cryptocurrency work?
  • What qualifies as money/currecy in Islam?
  • Can non-tangible things be property (mal) ?
  • What are the Islamic legal criteria for money/currency?
    • Definition of Money
    • Differences Between Money and Commodities
    • Types of Money
    • Customary Money Explained
  • Shariah Analysis of Fatawas and Scholars Opinions
    • Does money need a central authority?
    • Does speculation make bitcoin haram (impermissible)?

As Seen in Press & Media

Quoted or cited in academic papers and dozens of articles, including the following publications

Shariah Analysis of Bitcoin, Cryptocurrency, and Blockchain

Read the Working Paper (PDF)



Get in Touch

United States

55 E 3rd Ave
San Mateo, CA 94401


Satrio Tower 16th Floor, Mega Kuningan
Jl. Kuningan Barat Raya, Jakarta 12950

Important Legal Info

Blossom is a trademark of Blossom Labs, Inc. a U.S. Delaware Corporation. For inquiries, contact [email protected]

1. Blossom Investments are not guaranteed or insured, and investors may lose some or all of the principal invested. Blossom is not a financial adviser and statements appearing on Blossom's website and communications from Blossom do not constitute financial advice.

2. Historical Returns are not intended as a promise of future results. Blossom Investments are not insured or guaranteed and investors may have negative returns. Individual portfolio results may be impacted by, among other things, the size and diversity of the portfolio, the exposure to any single Note, Beneficiary or group of Notes or Beneficiaries, as well as macroeconomic conditions.

3. Actual results may differ materially from projected and/or historical returns. Blossom Investments are not guaranteed or insured, and investors may lose some or all of the principal invested. Prior to making an investment decision, prospective investors should carefully consider all terms and risk factors stated in the offering documents and information appearing in/on Blossom’s website and apps. Investments are subject to a number of risk factors, including but not limited to issuer credit, currency, political, legal, regulatory, liquidity, settlement, concentration, portfolio performance and platform risks.

4.  US Residents must qualify as accredited investor under Regulation D of the Securities Act of 1933.

Use of this site is governed by the following policies: