The Indonesian government is considering a Bitcoin reserve

Bitcoin Indonesia recently held a meeting with Indonesian officials in order to explore how this strategy could drive economic development.

“We were invited to the Vice President’s office to present how Bitcoin could benefit the country,” Bitcoin Indonesia said In an X-post on Monday.

“We explored a bold idea: Using Bitcoin mining as a national reserve strategy.”

“Yes, seriously. [Indonesia] is looking into how Bitcoin could fuel long-term economic strength,” Bitcoin’s community posted on X. The Bitcoin community also added Bitcoin mining and educational initiatives to their list of priorities.

Indonesia, with 280,000,000 people is the 4th most populous country on the planet. With a Gross Domestic Product of approximately $1.4 trillion it is the 16th biggest economy on the planet. 

Bitcoin mining and education are key areas to focus on

Bitcoin Indonesia’s presentation included pointers on how the country can leverage its abundant hydroelectric and geothermal resources to fuel economic growth — a strategy that has spurred significant job creation in other countries embracing Bitcoin (BTC).

Bitcoin Indonesia confirmed that it was special staff of the Indonesian Vice President’s office, Gibran Rakbuming Raha.

Bitcoiners were even present Michael Saylor’s prediction Bitcoin will reach $13 million dollars by 2045 if you use a worst-case scenario, or $49 million if it is a bull’s case. 

Bitcoin Indonesia is also a proponent of the Bitcoin. Bitcoin education initiatives One representative of the Vice-President’s Office in Indonesia seemed to agree that adoption should be encouraged:

“Indonesia must also continue to educate about Bitcoin in the future,” Bitcoin Indonesia recalled The official expression

Bitcoin’s ability to grow in price over time has inspired nations like the US adopting it as a reserve asset for their debt ratios. hedge against inflation.

This pitch, however, may not be as relevant to Indonesia because its debt-to GDP remains low. 39%, The annual inflation rate of the country (as per January 2025) has been kept under strict control. 0.76%.

Indonesia has recently adopted anti-crypto policy

Indonesia has allowed crypto-trading but not its use as a payment method. 

Indonesian Finance Ministry Last Friday raised taxes Crypto traders and mining companies are subject to tax. Taxes on cryptocurrency sales through local exchanges have more than tripled to 0.21% from 0.1%. foreign exchanges From 0.2%, the rate of increase has been fivefold. 

Related: Network states will one day compete with nation-states — Web3 exec

The tax rate on cryptocurrency mining has doubled to 2.2% from 1.1%.

The crypto payment ban is not being enforced widely

Indonesia bans crypto payment since 2017 and has confirmed that in 2023, tourists who make crypto payments will also be banned. “be dealt with firmly.”

The enforcement of the ban appears lax. A Cointelegraph reporter who was recently on the scene observed several real-estate listings Bali accepts Bitcoin openly

Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow