An approach that has resulted in the creation of jobs in other nations that have adopted Bitcoin was discussed during the presentation.
A representative from the office of Vice President Gibran Rakabuming Raka met with Bitcoin Indonesia, according to the company. Apparently, Bitcoin Indonesia has been meeting with Indonesian government officials. In order to examine the possibility of using Bitcoin as a reserve asset, which might boost the country’s economy. On Monday, Bitcoin Indonesia announced via an X post that they had been invited to the office of the Vice President. To discuss the potential benefits of Bitcoin to the country.
There are more than 280 million people living in Indonesia, making it the fourth most populated nation on Earth. With a GDP of $1.4 trillion, it is the sixteenth biggest economy in the world.
Banking on Bitcoin
An approach that has resulted in the creation of jobs in other nations that have adopted Bitcoin was discussed during the presentation. Which included the use of the country’s plentiful geothermal and hydroelectric resources to drive economic development.
A representative from the office of Vice President Gibran Rakabuming Raka met with Bitcoin Indonesia, according to the company. Michael Saylor predicted that Bitcoin will reach $13 million by 2045 in a base case scenario. And $49 million in a bull case, which the Bitcoiners also presented.
The United States and other nation-states have begun to hold Bitcoin as a reserve asset in order to combat their growing debt-to-GDP ratio and inflationary fears due to the cryptocurrency’s potential for long-term price increase.
Indonesia may not find that offer as compelling since its debt-to-GDP ratio is still low at 39% and its annual inflation rate is well under control at 0.76% (as of January 2025). Although cryptocurrency payments are not yet legal in Indonesia, trading is legal. Cryptocurrency merchants and miners were hit with higher taxes by Indonesia’s Finance Ministry on Friday.