Bitcoin

Halal Rating :
Comfortable
Last Price $105,000 Last updated:
Rank 1
1D Change 0.87 %
Market Cap $2.08t
Circulating supply 19,812,346
Maximum supply 21,000,000
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Mineable
  • PoW
  • SHA-256
  • Store Of Value
  • State Channel
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  • Paradigm Portfolio
  • Bitcoin Ecosystem
  • FTX Bankruptcy Estate
  • 2017/18 Alt season

Purpose and Utility

Bitcoin was created in 2009 by Satoshi Nakamoto as a peer-to-peer electronic cash system. Its primary intended purpose is to serve as a decentralized digital currency and store of value, operating independently of traditional financial institutions.

Current Usage

Bitcoin is widely used as both a medium of exchange and a store of value. Major companies like Microsoft, PayPal, and Tesla have accepted or currently accept Bitcoin payments. Countries like El Salvador have adopted it as legal tender. The network processes hundreds of thousands of transactions daily.

Business Model

Bitcoin operates through a transparent, open-source protocol. The network is maintained by miners who secure transactions through Proof of Work consensus. All transactions are publicly visible on the blockchain. The protocol doesn't involve interest-bearing products or prohibited activities.

Development Activity

Bitcoin maintains active development through Bitcoin Core and other implementations. Recent developments include Taproot upgrade for enhanced privacy and smart contract capability, and Lightning Network for scalability. The ecosystem continues to expand with developments in custody solutions, payment systems, and institutional adoption.

Token Distribution

Bitcoin's creator never premined coins for personal benefit. New bitcoins are created through mining, with a fixed supply cap of 21 million. No single entity controls a majority of the supply. Early holders who may have accumulated significant amounts did so through mining or market purchases.

Crypto Impact

To assign a comfort level investing in Bitcoin from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Contribute