On 6 March 2025, the President of the United States, Donald Trump, signed an executive order establishing a strategic Bitcoin reserve, positioning the cryptocurrency alongside traditional assets such as gold and oil within the nation’s reserves. This groundbreaking move signifies the formal recognition of Bitcoin as a significant financial instrument, solidifying its role in the global economy.
In Indonesia, enthusiasm for cryptocurrencies continues to grow rapidly. In January 2025, the value of crypto transactions reached Rp44.07 trillion, representing a 104.31% increase compared to the same period the previous year. The Financial Services Authority (OJK) reported that by February 2025, a total of 1,396 cryptocurrencies were being traded in Indonesia, with 19 entities licensed as crypto asset traders, reflecting the nation’s expanding digital economy.
Timothy Ronald, a leading crypto industry observer, suggests that Indonesia could emulate the cryptocurrency regulations implemented in Thailand and the United States to harness the sector’s growth potential. He noted that the United States now considers Bitcoin a national asset, which may prompt other nations to follow suit. Ronald also highlighted a shift in Bitcoin accumulation strategies, stating that miners now prefer purchasing Bitcoin directly rather than investing in mining equipment, as the latter depreciates over time. According to him, this change could lead to higher future prices for digital assets, as the returns from mining are no longer comparable to the margins obtained through direct purchases.
Within the Indonesian context, Bank Indonesia’s Project Garuda—a digital rupiah initiative based on blockchain technology—has attracted significant attention. Although not entirely cryptocurrency-based like Bitcoin, Ronald emphasised the importance of adopting blockchain technology, arguing that it fosters trust within the system and enhances transparency.
With the adoption of appropriate regulations and technological advancements, Indonesia holds the potential to follow the United States in integrating cryptocurrencies into its national strategic reserves. This shift could position Indonesia as a major player in the global cryptocurrency market, attracting investment and fostering innovation in the digital asset space.
