Indonesian officials are exploring how Bitcoin mining and education could strengthen the economy, even as new crypto taxes and payment bans tighten.
Indonesia may be taking its first steps toward integrating Bitcoin into its national strategy. According to Bitcoin Indonesia, a delegation recently met with top government officials, including advisors to Vice President Gibran Rakabuming Raka, to discuss how Bitcoin could serve as a strategic asset—not just for reserves, but for nationwide economic growth.
The discussion reportedly covered everything from Bitcoin mining to public education initiatives, with a surprisingly direct question raised: What if Indonesia used Bitcoin mining to build its national reserves?
Energy, Education, and a $49M Bitcoin?
With over 280 million people and a GDP of $1.4 trillion, Indonesia is one of the world’s largest economies. The country’s vast geothermal and hydroelectric potential could provide the backbone for sustainable Bitcoin mining—an approach already delivering jobs and revenue in other nations.
Bitcoin Indonesia also highlighted long-term projections like Michael Saylor’s bold estimate of Bitcoin reaching $13 million—or even $49 million—in the coming decades. While such predictions are speculative, they underscore growing interest in BTC as a long-term store of value.
One official reportedly responded positively to the group’s call for stronger Bitcoin education, signaling potential alignment on the issue.
Meanwhile, Crypto Tax Pressure Builds
Despite these forward-looking conversations, the Indonesian government recently doubled down on taxation. Crypto traders using local platforms now face a 0.21% income tax—up from 0.1%—while foreign exchange users are taxed at 1%, up from 0.2%. Crypto mining activities were also hit, with VAT rising from 1.1% to 2.2%.
Although crypto trading is legal, the use of digital assets for payments remains banned, a rule reaffirmed last year. However, enforcement appears inconsistent. In places like Bali, crypto continues to appear in real estate listings and tourist transactions, despite the prohibition.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/indonesia-looks-to-bitcoin-as-a-strategic-asset-despite-rising-crypto-taxes/