Indonesia’s cryptocurrency community in 2022: An overview
Crypto is the next big thing in Indonesia. According to the Ministry of Trade, transactions for currencies like (BTC) grew over 14 times from a total of 60 trillion rupiahs ($4.1 billion) in 2020 to a total of 859 trillion rupiahs ($59.83 billion) in 2021.
It’s getting to the point where crypto is becoming more popular than traditional stock. Vice Minister of Trade Jerry Sambuaga stated that more than 11 million Indonesians bought or sold crypto in 2021. In comparison, according to the Indonesian Central Securities Depository, the total number of portfolio investors — indicated by the number of single investor identities — reached 7.35 million in 2021.
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