Bappebti: Number of Crypto Owners Increases But Transaction Value Drops
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4 January 2023 16:08 WIB
TEMPO.CO, Jakarta - Indonesia’s Commodity Futures Trade Regulatory Agency (Bappebti) revealed that the percentage of internet users in the country possessing crypto assets is quite large at around 16.4 to 18.4 percent. However, the popularity and transaction value of digital assets decreased throughout 2022.
“This is a potential for better management of crypto assets in the future,” said Acting Head of Bappebti Didid Noordiatmoko at a press conference in Jakarta, Wednesday, January 4, 2023.
He outlined that the total registered customers of crypto assets rose from 11.2 million in 2021 to 16.55 million in 2022. The transaction value, meanwhile, plummeted from Rp859.4 trillion in 2021 to Rp296.66 trillion from January to November 2022.
“This means there is a decrease of more than 50 percent,” Didid said.
The popularity of crypto assets also declined. Referring to data from the Statista Global Consumer Survey, Didid predicted that there will be extraordinary crypto winter in 2023.
Although its popularity declined, he opined that it will reborn at a slow pace. “This winter is not ending. It seems that it is still getting to its lowest point, meaning that even though it is not getting worse, it won't be completely reborn in 2023,” he said.
He opined that the government needs to improve the Indonesian crypto asset trading ecosystem as it can be one of the strategies to profit from this potential digital economy, which is in line with the study result by the Center of Economics and Law Studies (Celios) that crypto assets are one of the three main investment products in the archipelago.
Celios informed that 21.1 percent of its survey respondents invested in crypto assets, 21.7 percent in stocks, and 29.8 percent in mutual funds, with an average placement of Rp500,000 to Rp1 million.
“Crypto assets trading can accelerate, create, and encourage efforts to develop Indonesia's digital economy in 2030,” Didid concluded.
RIANI SANUSI PUTRI
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