Bappebti Projects Crypto Asset's Unequivocal Future
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16 June 2023 21:02 WIB
TEMPO.CO, Jakarta - The Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) Head Tirta Karma Sanjaya elaborated on Indonesia’s future crypto assets investment projection.
Sanjaya said that the blockchain is already an integral part of technological advancement and is projected to continue developing as technology advances. He also mentioned the observed growth of global cryptocurrency individual users and countries that have legalized the commodity.
“The potential for crypto assets to grow exists,” Sanjaya said on June 14, 2023. Sanjaya also encouraged Indonesia to better accommodate and elevate the features of the crypto trade to make the industry even more attractive.
However, Bappebti revealed that the number of investors for crypto assets is not as lucrative as in 2021 where investor growth was able to reach 400,000 investors every month. “Currently it averages around 100,000 [new investors] on a monthly basis,” he explained.
The agency recorded a total of 16.99 million crypto investors in Indonesia as of February 2023, which has grown by 13,000 compared to January 2022.
The value of crypto assets trading in Indonesia has also increased early into 2023. As of February 2023, crypto transactions reached Rp 13.8 trillion, which is an increase of 13.7 percent compared to January 2023, which logged Rp 12.14 trillion.
Investment practitioner and author of investment books Desmond Wira explained that crypto assets are actually still bearish in the long run as he believes the strengthening of this industry was only temporary.
"I advise crypto investors to remain vigilant and avoid getting caught up in temporary euphoria," said Desmond.
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