Method for Calculating Zakat on cryptocurrency

The formula: Units of cryptocurrency and digital assets x current price (at end of haul) x 2.5% = Total Zakat

Example: Mr. Ali owns 0.2 units of Bitcoin (BTC) which has met the haul requirement. The current price for 1 BTC is RM258,107.

The zakat amount Mr. Ali needs to pay for the year 2021 is:

0.2 units x RM258,107 x 2.5% = RM1,290.54