The Indonesian government is considering Bitcoin as a reserve asset, according to Bitcoin Indonesia, which recently presented the idea to officials at the Vice President’s office. They proposed using Bitcoin mining as a national reserve strategy, leveraging the country’s abundant hydroelectric and geothermal resources to drive economic growth. Indonesia is the fourth most populous nation with a GDP of $1.4 trillion, ranking 16th globally. Bitcoin Indonesia claims the cryptocurrency could substantially benefit the economy and projected potential future prices, suggesting Bitcoin could reach $13 million to $49 million by 2045 depending on market conditions. They emphasized the need for continued education on Bitcoin. Although Indonesia has allowed crypto trading since a ban on crypto payments in 2017, recent regulatory changes increased taxes on crypto trading and mining. Despite these regulations, enforcement of the payment ban has been inconsistent, especially in tourist areas like Bali.

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