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<p>Recent data released by the Commodity Futures Trading Supervisory Agency (Bappebti) underscores the robust growth of the crypto investment landscape in Indonesia.</p><h2 id="header-0">10.1% year-on-year increase</h2><p>According to <a href="https://www.thejakartapost.com/business/2023/10/27/indonesia-now-has-17-91-million-crypto-investors-bappebti.html" rel="noopener noreferrer nofollow">reports</a> published in recent days in local media, as of September 2023, the country boasts 17.91 million crypto investors, marking a noteworthy 0.67% uptick compared to the previous month of August, which registered 17.79 million individuals.</p><p>Over the span of a year, from September 2022 to September 2023, the Southeast Asian nation witnessed an influx of approximately 1.64 million new crypto investors, showcasing a remarkable 10.1% increase from the 16.27 million reported in September 2022.</p><h2 id="header-1">Emerging from a slowdown</h2><p>While this growth signals a positive trend, a noteworthy observation pertains to the deceleration in crypto investor growth from October 2022 to August 2023. The data reveals that during this period, the increase in the number of crypto investors in Indonesia never exceeded 1%. This slowdown can be attributed to the global crypto market’s trend characterized by uncertainty and a downward trajectory.</p><p>Tirta Karma Senjaya, Head of the Bappebti Commodity Futures Trading Development and Development Bureau, comments on this phenomenon, <a href="https://voi.id/en/technology/323722" rel="noopener noreferrer nofollow">stating</a>, “Growth in the number of crypto investors in Indonesia continues to increase, but investors are still looking for the right time to buy crypto.”</p><p>Furthermore, Bappebti highlights a reduction in the value of crypto transactions in Indonesia for September 2023, amounting to IDR 7.96 trillion ($502 million). This marks a decrease of 25.2% when compared to the preceding month, which recorded a total of IDR 10.64 trillion. In contrast to the previous year, this decline reflects a substantial 54.7% contraction from the September 2022 figure of IDR 17.57 trillion.</p><p>Yudhono Rawis, CEO of Tokocrypto, an Indonesian crypto exchange platform, suggests that global conditions, including economic and regulatory uncertainties, have significantly impacted the crypto market’s evolution, both within Indonesia and worldwide. Despite the recent slowdown in growth, Indonesia’s crypto market continues to exhibit considerable potential.</p><h2 id="header-2">Bitcoin resurgence</h2><p>Yudhono remains optimistic, anticipating that the growth and trading volumes of crypto assets in October will surpass previous records. This optimism stems from the surge in Bitcoin prices, which soared in excess of $35,000 (approximately IDR 556.5 million) towards the end of October. This milestone marks Bitcoin’s highest point in nearly 18 months and signifies a mounting interest in the crypto market on a global scale.</p><p>In a statement to Voice of Indonesia, Yudhono <a href="https://voi.id/en/technology/323722" rel="noopener noreferrer nofollow">stated</a>:</p><p>“We are confident that the growth of investors and transactions will continue to increase. The increase in Bitcoin prices and increasingly strong interest in the crypto market in general are indications that these digital assets are increasingly accepted by society. We hope that this trend will continue and bring benefits to the entire ecosystem crypto.”</p><p>The crypto investment sector in Indonesia continues to experience steady growth, albeit amid global market fluctuations. With Bitcoin’s resurgence and a growing appetite for digital assets, the outlook for Indonesia’s crypto market is positive.</p>

Indonesia Sees Further Crypto Investor Growth

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