A study results say, Bitcoin according to Islamic Shari'a. The results of this study open the market potential Bitcoin wider reach 1.6 billion Muslims around the world.
The study, conducted by Muhammad Abu-Bakar of Blossom Finance in Indonesia, focuses on whether Bitcoin and other cryptocurrencies match the definition of money in Islamic law. The results then boosted the exchange rate of Bitcoin to USD 1,000 within an hour only after the results of the study were released.
A study results say, Bitcoin according to Islamic Shari'a. The results of this study open the market potential Bitcoin wider reach 1.6 billion Muslims around the world.
The study, conducted by Muhammad Abu-Bakar of Blossom Finance in Indonesia, focuses on whether Bitcoin and other cryptocurrencies match the definition of money in Islamic law. The results then boosted the exchange rate of Bitcoin to USD 1,000 within an hour only after the results of the study were released
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"Bitcoin is allowed as valuable in global trade and accepted as payment in various merchants or merchants," the study wrote.
Through his site and Twitter account, Blossom Finance publishes the results of this study to be accessible to the public.