Indonesia Considers Holding Bitcoin in National Reserves

The post Indonesia Considers Holding Bitcoin in National Reserves appeared first on Coinpedia Fintech News

Something interesting is happening in Indonesia. The country is now exploring the idea of adding Bitcoin to its national reserves. A local group called Bitcoin Indonesia recently met with the office of Vice President Gibran Rakabuming Raka to discuss this bold move. They also proposed a plan for state-supported Bitcoin mining powered by renewable energy.

Turning Green Energy Into Digital Gold

Indonesia has huge potential when it comes to geothermal and hydro power. The group believes this energy could be used to mine Bitcoin on a large scale, helping grow the economy and create jobs. This strategy has already worked in other Bitcoin-friendly countries. They even mentioned a forecast by Michael Saylor that Bitcoin could reach $13 million by 2045.

Unlike other nations that are turning to Bitcoin due to inflation or high debt, Indonesia is in a strong position. Inflation is steady, and debt levels are moderate. So this is more of a forward-thinking innovation than a financial rescue.

Education Comes First

Adhit from the VP office says, “Indonesia must also continue to educate about Bitcoin in the future.“

Government officials are interested but cautious. Their main point was that people need to understand Bitcoin before any major decision is made. The group agreed and said national education programs would be key to building trust and adoption.

Rising Crypto Taxes Add a Twist

At the same time, Indonesia recently increased taxes on crypto. Income tax on crypto sales was doubled, fees on foreign transactions went up five times, and mining now faces higher VAT. Also, crypto payments are still banned, a rule that was reinforced last year.

But on the Ground, Bitcoin is Already in Use

Despite these rules, people are using Bitcoin. In places like Bali, properties are openly listed with Bitcoin prices. Peer-to-peer deals are happening quietly, showing that Bitcoin already has a presence in the local economy.

Also Read :   Crypto News Today: Binance Founder Says FTX’s $1.7B Lawsuit Doesn’t Belong in US Courts   ,

What Happens If Indonesia Moves Forward

If this plan becomes reality, Indonesia could be the first major country in Asia to hold Bitcoin as part of its reserves. That would be a big shift in how governments deal with digital assets.

If Bitcoin gets reclassified under the Financial Services Authority, it could bring more clarity for investors and help attract more capital into Indonesia’s growing crypto market.

Now the world is watching to see what Indonesia does next.