Indonesia, the fourth most populous country globally, is considering adopting Bitcoin as a national reserve to boost its economic growth. This groundbreaking move could disrupt traditional financial norms.
Indonesia, the world’s fourth most populated country, is considering using Bitcoin as a national reserve to stimulate its economic growth. This ambitious initiative could disrupt traditional financial norms and position the country as a pioneer in the institutional adoption of cryptocurrencies.
Recent discussions between Indonesian officials and the Bitcoin Indonesia organization have highlighted several key areas :
Among the arguments presented were projections from renowned investor Michael Saylor :
A Bitcoin value of $13 million by 2045 in a moderate scenario, and up to $49 million in a bullish outlook. Enough to inspire an economy seeking diversification.
Despite this interest, the legal framework remains restrictive. Since 2017, cryptocurrency payments have been prohibited in Indonesia. More recently, the government introduced strict taxation on transactions and mining.
But the reality on the ground is evolving : In Bali, it’s already possible to pay for real estate with BTC. This indicates that crypto-asset usage is gaining ground, even in the face of a rigid regulatory environment. By considering BTC as an economic pillar, Indonesia is sending a strong signal. If legal barriers are removed, the country could become a regional or even global hub for the crypto economy.
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