Indonesia is actively considering the addition of Bitcoin to its national reserves. A local initiative recently discussed this with Vice President Gibran Rakabuming Raka.
Renewable Energy Potential for Bitcoin
Indonesia has substantial potential in geothermal and hydro power. The group believes this energy could be leveraged for large-scale Bitcoin mining, aiding economic growth and job creation. Such strategies have been effective in other Bitcoin-friendly countries.
Education and Awareness About Bitcoin
A representative from the Vice President's office emphasized the necessity for the public to understand Bitcoin before major decisions are made. The group agreed that national educational programs would be essential for building trust and adoption.
Crypto Taxation in Indonesia
Recently, Indonesia doubled income taxes on crypto sales, increased fees on foreign transactions fivefold, and raised VAT on mining. Additionally, crypto payments remain banned.
If Indonesia moves forward with this plan, it could become the first major country in Asia to hold Bitcoin as part of its reserves, signaling a significant shift in how governments approach digital assets.
