ORDI
ORDI#200ORDI is the first BRC-20 token on Bitcoin, created as an experiment in March 2023; it has a fixed supply of 21 million.
- Market cap
- $96.78M
- Volume 24h
- $18.78M
- All-time high
- —
- Circulating supply
- 21M of 21M
Passes our 8 Shariah criteria. Needs caution: gambling (maysir), excessive uncertainty (gharar), and usage.
- 5 pass
- 3 caution
- 0 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
Halal analysis
Can a Muslim hold ORDI?8 Shariah criteria
5 pass · 3 caution · 0 failHolding ORDI pays nothing: the token has no staking, lending or fee-sharing function.
Riba is interest or any guaranteed increase on a loan. ORDI is a plain BRC-20 token with no staking, reward or interest function. CryptoUmmah finds 'no riba, no treasury risk, and a fair launch', and Sharlife rates ORDI permissible. With no interest in the asset itself, the criterion is at the maximum; lending ORDI through third parties is interest and is covered under trading mechanisms.
ORDI is a fixed-supply token recorded on Bitcoin that can be owned and transferred.
This criterion asks whether the asset has real value as property (mal). ORDI is a scarce, transferable token recorded in Bitcoin inscriptions, with a supply fixed at 21 million. Sharlife, the first authoritative source that rates ORDI, lists it as permissible. Its lack of function is counted under usage and gambling, not here, so the criterion is at the maximum.
ORDI has no chance-based payout, but speculation dominates its use and its price has swung widely.
Maysir is gambling: gaining or losing by chance rather than through productive exchange. ORDI is not a betting token, but it produces nothing, so its return depends on other buyers. CryptoUmmah scores maysir 62/100 and says speculative trading and high volatility dominate its use; CoinGecko places it in the Meme category. Decrypt reported a 549% rise in one month in 2023, and on 1 October 2026 the price was about 95% below its March 2024 high. These concrete points put the criterion at caution.
There is no issuer business or protocol income, so no impermissible revenue reaches holders.
This criterion asks how the issuer or protocol earns and whether any of that income is impermissible. ORDI has no issuer, no fees and no treasury: the supply was minted openly by users. No source shows income from interest, gambling or other prohibited activity, so the criterion is at the maximum.
Supply is fixed and public, but the creator is pseudonymous, the standard is experimental and balances depend on off-chain indexers.
Gharar is excessive uncertainty or hidden information. The supply of 21 million is fixed and fully minted. But the creator is pseudonymous and his documentation calls BRC-20 an experiment whose tokens 'will be worthless'. Balances are not stored directly on Bitcoin and must be worked out by off-chain indexers. CryptoUmmah scores gharar 53.3/100 and notes there are no audits or governance. These are concrete uncertainties, so the criterion is at caution.
ORDI is used almost only for holding and trading.
This criterion looks at what the asset is actually used for. ORDI pays for nothing and powers no service: it began as a demo of the BRC-20 standard. CryptoUmmah says speculative trading and NFT-like market dynamics dominate its use. It does have a role as the first and reference token of the BRC-20 ecosystem. With trading as nearly its only use, the criterion is at caution.
Fully paid spot ORDI is available on major exchanges and can be held in a Bitcoin wallet.
This criterion asks whether the asset can be owned in a permissible way. ORDI trades spot with full payment and delivery on major exchanges, including Binance since November 2023, and can be held in a self-custody Bitcoin wallet that supports inscriptions. Ownership does not depend on derivatives or leverage, so the criterion is at the maximum.
No concrete fraud or hack is documented; the harm of speculation is counted under gambling.
Maslahah weighs benefit against harm. ORDI had an open mint with no sale and no team allocation, and it opened a new way to issue tokens on Bitcoin. No source collected documents fraud or a hack involving ORDI. Its speculative use is already counted under maysir and usage, so it is not counted again here and the criterion is at the maximum.
How you can use it
Tap a card for the ruling and sourcesBuying ORDI with full payment and immediate delivery is widely available on exchanges, and the tokens can be held in a self-custody Bitcoin wallet. Sharlife lists ORDI as permissible; CryptoUmmah rates it doubtful and asks for purification of 4 to 6% of profits.
No exchange-traded fund or product holding ORDI was found in the sources collected. A product that held ORDI itself would be judged like spot; its structure would need checking.
ORDI is not used for payments in any app found; it is held and traded. Tier-1 bodies such as Indonesia's MUI rule that using cryptocurrency as currency is not permissible.
Not available natively: ORDI is a BRC-20 token on Bitcoin with no staking function and no validation work. Products marketed as ORDI 'staking' get their return from somewhere else, usually lending or incentives, and must be checked.
Margin trading is never acceptable: it is a deferred exchange with borrowed money and leverage (AAOIFI SS 20).
Futures, perpetuals and options always fail under AAOIFI SS 20: deferred exchange without delivery, usually with leverage.
Lending ORDI through exchange or DeFi lending programmes pays depositors interest from borrowers. This is riba.
ORDI pays holders nothing itself. Yield products on ORDI get their return from lending or similar interest-like sources and fail.
Scholars quotes
The opinion on this is the same as doing the same with any halal assets such as shares – 1) is permissible, 2) is more debatable and there are differing opinions on short-term trading.As I mentioned at the beginning of this article it is not necessary to substantiate the permissibility of something as long as there are no prohibited factors involved in it or surrounding it.Penggunaan cryptocurrency sebagai mata uang hukumnya haram, karena mengandung gharar (ketidakjelasan), dharar (bahaya) dan bertentangan dengan Undang-Undang nomor 7 tahun 2011 tentang Mata Uang dan Peraturan Bank Indonesia nomor 17 tahun 2015 tentang Kewajiban Penggunaan Rupiah di Wilayah Negara Kesatuan Republik Indonesia.Sebagaimana mata wang yang lain, mata wang digital hendaklah tidak digunakan sebagai bayaran kepada barangan, perkhidmatan dan aktiviti tidak patuh Syariah seperti pembelian dadah, pelacuran, perjudian dan pendanaan aktiviti keganasan serta penggubahan wang haram.The SAC has also resolved that investment and trading of Digital Assets that fulfil the above requirements and which are traded on Digital Asset Exchange (DAX) registered with SC are permissible.Third: In light of the above and given the significant risks associated with this type of currencies and the instability of their transactions, the Council of the Academy recommends pursuing research and studies on issues affecting its ruling.Bitcoin is a digital currency that does not meet the legal and Sharia criteria that make it a currency subject to the rulings of dealing with official legal currencies recognized internationally.بناءً على ذلك: فلا يجوز شرعًا تداول عملة "البتكوين" والتعامل من خلالها بالبيعِ والشراءِ والإجارةِ وغيرها، بل يُمنع من الاشتراكِ فيها؛ لعدمِ اعتبارِها كوسيطٍ مقبولٍ للتبادلِ من الجهاتِ المخُتصَّةِ، ولِمَا تشتمل عليه من الضررِ الناشئ عن الغررِ والجهالةِ والغشِّ في مَصْرِفها ومِعْيارها وقِيمتها، فضلًا عما تؤدي إليه ممارستُها من مخاطرَ عاليةٍ على الأفراد والدول.According to research and opinion of experts so far, cryptocurrency is not considered ‘ maal ’ (wealth) in Sharia.Muhammadiyah memandang transaksi dan investasi kripto pada dasarnya mubah (boleh) tetapi dengan syarat tertentu.Our current position is 'tawaquf'; we can't say it is halal or haram, but we say it is better not to engage in itAI-assisted analysis checked against sources. Not a fatwa or investment advice.
Where it trades
Section in preparation
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