Heaptalk, Jakarta — The number of crypto investors in Indonesia continues to increase monthly. Indonesia’s Commodity Futures Trading Supervisory Agency (CoFTRA) recorded the number of crypto investors reaching 20.24 million as of June 2024. This significant growth contributed to the crypto transaction bump to about 345% YoY, reaching USD18.5 billion (around Rp301.75 trillion) in the same period.
From January to May 2024, CoFTRA noted that the total transaction value reached US$16 billion, approximately Rp260.9 trillion, exceeding last year’s total transaction of US$9.1 billion or nearly Rp149.3 trillion. Meanwhile, the number of the archipelago’s crypto investors decreased to 19.75 million as of May 2024, compared to 20.16 million investors in April 2024.
The Chief Compliance Officer (CCO) of Reku, Robby, who also served as Chairman of ASPAKRINDO-ABI, voiced that the positive performance of Bitcoin ETF has boosted Indonesia’s crypto industry enhancement. According to him, this positive performance indicates the great interest of conservative investors in the United States in Bitcoin and strengthens their overall confidence, including in Indonesia.
As is known, the Bitcoin Spot ETF in the United States hit the second-largest daily net inflow since listing, captivating funds worth US$886.75 million. This Bitcoin inflow continued to increase until July. This Crypto Asset also experienced a strong flow of funds, obtaining over US$10 million.
Although Bitcoin’s performance is still quite volatile, Robby said that Bitcoin is on a bullish track. The primary rally historically commences around 1 – 6 months after halving momentum. This potential brings investor optimism that is still relatively high, as evidenced by the increasing number of transactions and investors in the archipelago.
On the domestic side, Reku’s CCO also emphasized, “Indonesia’s crypto regulation has also been arranged comprehensively, with the support of crypto exchanges and CoFTRA, which protect investor security. Additionally, the industry has also been legitimized by taxes. Regulatory support in protecting investors is also reflected in the government’s efforts to block unregistered global social media exchanges.”
