Originally published on: October 29, 2024
Did you know that over 60% of cryptocurrency investors in Indonesia are under the age of 30? That’s right, a recent report from the country’s commodities regulator, the Commodity Futures Trading Regulatory Agency (Bappebti), revealed that the youth are leading the crypto revolution in Indonesia.
According to the data released in September, a whopping 26.9% of crypto investors in Indonesia fall between the ages of 18 to 24, while 35.1% are in the 25 to 30 age bracket. These young investors are driving the crypto market in Indonesia, with the total volume of September transactions reaching 33.7 trillion Indonesian rupiah, equivalent to $2.1 billion.
The most popular cryptocurrencies among Indonesian investors include Tether’s USDt, Ether, Bitcoin, Pepe, and Solana. Despite facing challenges from the country’s dual tax system for crypto transactions, Indonesians continue to embrace digital assets and actively trade in the market.
While crypto assets are officially recognized as commodities in Indonesia, Bappebti is pushing for a reassessment of the taxation rules to better accommodate the growing crypto economy. The head of the Bureau of Market Development at Bappebti, Tirta Karma Senjaya, believes that cryptocurrencies will soon become an integral part of the country’s financial sector.
The trend of young investors leading the crypto charge is not unique to Indonesia. Similar patterns have been observed worldwide, with Gen Z and millennials showing a greater interest in cryptocurrency investments compared to older generations. A survey in the United States revealed that 20% of Gen Z adults and 22% of millennials are more likely to invest in crypto assets.
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