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Bank Indonesia Claims Bitcoin Value Declined Significantly

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Editor

6 April 2018 14:22 WIB

Cyrptocurrency trading

TEMPO.CO, Jakarta - Bank Indonesia (BI) recently announced that the number of Bitcoin users in Indonesia has significantly declined from roughly around one million users to just 300,000 users.

“Ever since the ban was introduced by BI, Bitcoin users have declined drastically,” said Ida Nuryanti, Bank Indonesiashead of payment system oversight (DKSP) in Central Java, on Thursday, April 5.

According to Ida, the number of declining users went hand-in-hand with the steadily declining value of the cryptocurrency.

Read: Bitcoin Indonesia Rebrands to Indodax

“The price of Bitcoin has drastically declined from Rp251,000,000 per coin down to around Rp120,000,000. We think that it won’t rise again,” she explained.

Ida maintains that Bank Indonesia has never identified a case where consumers were hurt by the Bitcoin ban introduced by the central bank.

“We saw what the transactions were like. As previously mentioned, Bitcoin is lacking in transparency, no receiver identity that can be tracked, and no consumer’s protection aspect,” Ida continued.

ANTARA

BitcoinBank Indonesia


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