DIGIVESTASI - Cryptocurrency investment is becoming increasingly popular among the Indonesian population. Data from the Commodity Futures Trading Regulatory Agency (Bappebti) shows that the value of cryptocurrency transactions in the first half of 2024 increased by 354.17% compared to the same period the previous year. From January to June 2024, crypto transaction values reached Rp 301.75 trillion, while in the same period the previous year, it was only Rp 66.44 trillion.

Despite some adjustments in May, the number of registered crypto asset customers reached 20.24 million by June 2024, with an average growth of about 430,500 customers per month since February 2021.

Tirta Karma Senjaya, Head of the Bureau of Development and Supervision of the Commodity Futures Trading at Bappebti, stated that the growth in the number of customers reflects the increasing awareness and interest of Indonesians in cryptocurrency investment. This is despite the decline in the prices of most crypto assets, including Bitcoin (BTC), in June.

"We hope that the transaction value and the number of customers throughout 2024 can be higher than the previous year. Bappebti is committed to continuing to support the growth of this industry through proper regulation and strong consumer protection," Tirta said in his official statement on Thursday (July 25, 2024).

Stablecoins dominate crypto trading in Indonesia, with Tether (USDT) being the most traded crypto asset from January to June 2024. Besides USDT, Bitcoin (BTC), Pepe (PEPE), Ethereum (ETH), and Solana (SOL) are also popular among Indonesians.

Wan Iqbal, CMO of Tokocrypto, reported that the company's average daily trading volume in June reached over US$20 million, with the number of users exceeding 4 million. He is optimistic about the future prospects of the crypto market, especially with the rising Bitcoin prices observed throughout July.

"We see good potential from August to the end of 2024. With increasing education and literacy about crypto assets, we believe this industry will continue to grow and provide significant benefits to the Indonesian economy," Iqbal explained.

Data from the Directorate General of Taxes at the Ministry of Finance shows that crypto tax revenue reached Rp 798.84 billion up to June 2024. This revenue consists of Rp 246.45 billion in 2022, Rp 220.83 billion in 2023, and Rp 331.56 billion in the first half of 2024.

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