The Investment Management Agency Daya Anagata Nusantara (BPI Danantara) has recently gained public recognition following its official launch by the President of the Republic of Indonesia, Prabowo Subianto, on February 24, 2025. This institution has a strategic role, managing state wealth independently to accelerate long-term development.

It should be noted that Danantara uses dividends from state-owned enterprises (BUMN) as its funding source, which were previously allocated to the Ministry of Finance of Indonesia. These funds are then invested in various strategic sectors such as renewable energy, manufacturing, and the food industry.

Recently, an idea emerged from the crypto industry suggesting that Bitcoin should be included as one of Danantara’s investment options. This proposal was first raised by Gabriel Rey, CEO of the licensed crypto exchange Triv, along with Anthony Leong, Deputy Secretary General of the Indonesian Young Entrepreneurs Association (HIPMI). Both believe it is time for Indonesia to follow the lead of major countries that have begun considering digital assets like Bitcoin as part of their national reserves.

Gabriel Rey emphasized that Bitcoin could serve as a new alternative amid global uncertainties. Currently, interventions to maintain the rupiah’s exchange rate heavily rely on Government Securities (SBN). However, he argued that in light of global volatility, a new “ammunition” is needed—one that is more decentralized, inflation-resistant, and not dependent on foreign entities.

He also referenced China’s example, which holds over 190,000 BTC confiscated assets, and how such holdings are strategically utilized in their economic policies.

Meanwhile, Anthony Leong stated that if Danantara allocated IDR 300 trillion to Bitcoin, it could potentially acquire up to 200,000 BTC. He added that if Bitcoin’s price rises significantly, the resulting gains could help offset a portion of the national debt.

Pros and Cons of Bitcoin Investment within Danantara

As a media outlet monitoring the crypto ecosystem and digital economic policies, Coinvestasi’s team summarizes the benefits and concerns related to this discussion.

Benefits:

• Hedge Against Inflation: With a capped supply of 21 million tokens, Bitcoin is considered a long-term inflation hedge due to its scarcity.

• No Third-Party Interference: Unlike traditional assets, Bitcoin is decentralized and not controlled by any entity, granting full sovereignty over the asset without reliance on external policies.

• Potential Long-Term Gains: Despite crypto’s volatility, Bitcoin remains relatively stable and tends to appreciate over time, offering the country potential for substantial profits, especially if bought at low prices and held long term.

• Investment Diversification: National strategic reserves have mainly consisted of traditional assets like Government Securities and gold. Bitcoin could serve as a new alternative to complement the asset portfolio without fully replacing existing assets.

• Embracing Digital Assets: By purchasing Bitcoin, Indonesia signals its commitment as a pioneering nation open to digital assets, projecting readiness for a digitally based financial future.

Concerns:

• High Volatility: Bitcoin’s price can fluctuate drastically over short periods, and without proper management, this can increase risks, especially in the short term.

• Not Widely Accepted Internationally: Only a few countries officially hold Bitcoin as national reserves, so this move is still experimental and not a global norm.

• Unclear Regulation: Although the Financial Services Authority (OJK) oversees the crypto ecosystem, specific regulations governing the storage of crypto assets by state institutions like Danantara are not yet established.

• Reputational Risk: This step might attract criticism from the public, who may view Bitcoin as speculative or digital gambling, potentially affecting