Indonesia Urged to Study Bitcoin as Part of National Reserves
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JAKARTA, Investortrust.id — Indonesia’s cryptocurrency industry is urging the government to seriously explore Bitcoin’s potential as part of the country’s national reserves, following a wave of high-profile global moves underscoring the asset’s growing strategic relevance.
Vice President of Indodax Antony Kusuma said Bitcoin’s decentralized nature and inflation-resistant characteristics make it a promising addition to the state’s reserve portfolio. However, he stressed that such a decision cannot be made overnight.
“It requires long-term studies, data-driven approaches, and cross-sector collaboration to ensure the policy is not only progressive but also accountable and aligned with national interests and economic stability,” Antony said in a press statement on Sunday, Aug 10, 2025.
He highlighted the need for synergy between industry players, regulators, and state wealth managers such as the State Wealth Management Agency, Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara). “If done openly and collaboratively, this review could produce an adaptive policy direction in line with the country’s long-term national interest,” he added.
Discussion Still in Exploratory Stage
The debate over Bitcoin as a reserve asset resurfaced after members of the Indonesian Bitcoin community were invited to the Vice President’s office. The meeting triggered speculation that the government was considering integrating digital assets into its strategic reserves, though participants clarified that discussions remained exploratory and at a very early stage.
Antony welcomed the clarification, saying it was important for the public to understand that the talks were conceptual and had not reached policy level. “This should not be used as a basis for speculative investment of any kind,” he said.
According to data from the Financial Services Authority (OJK), cryptocurrency transactions in Indonesia reached Rp 224.11 trillion ($14.1 billion) by mid-2025, with 15.85 million users nationwide. Antony said this growing adoption shows digital assets are gaining strategic weight in the national financial landscape, with potential roles beyond public investment instruments, possibly extending to fiscal policy.
Global Momentum Builds for Bitcoin Integration
The Indonesian debate comes amid a series of significant international developments boosting Bitcoin’s institutional credibility.
In the United States, President Donald Trump recently signed an executive order allowing 401(k) pension fund managers to invest in cryptocurrencies, real estate, and private equity. The move, which opens a $9 trillion market to digital assets, sent Bitcoin prices soaring to $117,400, with analysts projecting a possible test of $123,000 in the short term. Market dominance for BTC rose to 61% as total crypto market capitalization climbed 2.7% to $3.81 trillion.
At the institutional level, Harvard Management Company, which oversees Harvard University’s endowment, disclosed a $116.6 million ($1.89 trillion rupiah) stake in BlackRock’s iShares Bitcoin Trust (IBIT). This position, representing 8% of Harvard’s U.S. public market portfolio, is larger than its gold holdings and signals strong confidence in Bitcoin exchange-traded funds (ETFs).
Meanwhile, El Salvador — the first country to recognize Bitcoin as legal tender — announced plans to launch the world’s first national Bitcoin bank with a minimum capital requirement of $50 million (Rp 812.5 billion). Officials say the initiative will deepen Bitcoin-based financial inclusion and attract international crypto businesses, reinforcing the country’s pro-digital asset economic strategy.
Indonesia at a Crossroads
For Indonesia, these global moves create both a precedent and a strategic question. While Antony and other industry figures emphasize that the current discussions remain conceptual, they also argue that the government should not let the idea stall.
“As part of the national crypto industry, we encourage policymakers to move beyond talk and pursue open, academically grounded dialogue anchored in the country’s economic strategy,” Antony said.
With global institutions from Harvard to El Salvador taking concrete steps, and U.S. policy potentially pushing Bitcoin to new price records, the question for Indonesia is whether it will observe from the sidelines or begin laying the groundwork for digital assets to play a role in its sovereign reserve framework.
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