Bitcoin as a Means of Transaction and Investment in the Perspective of Islam

  • Abdulloh Hamid UIN Sunan Ampel Surabaya
  • Anis Fittria Faculty of Sharia, State Islamic University Walisongo Semarang, Indonesia
  • Ubbadul Adzkiya' Economic Sharia Department, Wahid Hasyim University Semarang, Indonesia
  • Santi Andriyani Islamic Education Department, Universitas IslanNahdlatul Ulama Jepara, Indonesia

Abstract

The emergence of bitcoin as a means of transaction and investment in the virtual world is intriguing to be studied. Many countries in the world have different perspectives upon the law of bitcoin itself. In Indonesia, the regulation on electronic money is in Indonesian Bank Regulation No. 20/6/PBI/2018 and MUI Fatwa No. 116/DSN-MUI/IX/2017. However, both have not specifically regulated bitcoin. As something new, bitcoin is necessary to be studied in the perspective of Islamic law. The research is a literature study utilizing content analysis to approach the data. The findings of the results are that bitcoin as a means of transaction is permissible (mubah) since there is a similar handover (taqabudh)--that there is a bitcoin to handover, there is no gambling (maisir), speculation (gharar), haram, riba, and false, and that the transactions is on a willingness basis (antharodin) of the both parties. Second, bitcoin as a means of transaction is haram if there is an uncertainty which is close to gharah and maisir, bitcoin as an investment tool has more damages than benefits.

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Published
2021-03-31
How to Cite
HAMID, Abdulloh et al. Bitcoin as a Means of Transaction and Investment in the Perspective of Islam. IQTISHODUNA: Jurnal Ekonomi Islam, [S.l.], mar. 2021. ISSN 2443-0056. Available at: <https://ejournal.iaisyarifuddin.ac.id/index.php/iqtishoduna/article/view/944>. Date accessed: 15 june 2021. doi: https://doi.org/10.36835/iqtishoduna.v10i2.944.