Cryptocurrency Industry in Indonesia Experiences Rapid Growth in 2024

The cryptocurrency industry in Indonesia continued its remarkable growth throughout 2024. According to the latest data from the Commodity Futures Trading Regulatory Agency (Bappebti), the total value of cryptocurrency transactions in Indonesia surged to IDR 650.61 trillion, nearly quadrupling compared to the previous year's transactions of IDR 149.25 trillion.

This increase also surpasses the transaction volume in 2022, which reached IDR 306.4 trillion, though it has yet to break the all-time high of IDR 859.4 trillion recorded in 2021. Additionally, the number of cryptocurrency users in Indonesia has seen significant growth, reaching 22.91 million users.

Factors Driving Transaction Surge

Tokocrypto’s CMO, Wan Iqbal, explained that the surge in cryptocurrency transactions in 2024 was influenced by various factors, both domestic and international. "The global market conditions played a significant role in the rise of cryptocurrency investments in Indonesia. Towards the end of last year, the positive exposure to Bitcoin and other cryptocurrencies increased," Iqbal stated in an official statement received on Friday (31/1/2025).

Iqbal further highlighted key factors driving this trend, including Donald Trump’s victory in the U.S. presidential election, approval of cryptocurrency-based ETFs, and the growing adoption of digital assets by large financial institutions. Domestically, favorable regulations have also played a key role in creating a more stable and attractive investment environment for investors. Additionally, government support for the development of the digital asset industry has significantly boosted market confidence.

Temukan berita dan artikel lainnya di Google News