The objection that Bitcoin lacks intrinsic value is not valid from a Shari‘ah perspective. Classical Islamic jurists did not require intrinsic value for something to be considered wealth. Instead, they focused on:

• Recognition by society (tamawwul)

• Storability (iddikhār)

• Permissibility of use (taqawwum)

Bitcoin’s value comes from its scarcity, decentralized nature, and growing acceptance.

Dr. Mufti Abdur-Rahman Mangera: