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#In-Depth Analysis | If Danantara Invests 1% in Bitcoin, Indonesia Could Become the 3rd Largest Holder Globally
The discussion of making Bitcoin (BTC) a part of the country's foreign exchange reserves through the Investment Management Agency of Daya Anagata Nusantara (BPI Danantara) is now a hot topic among the crypto community.
In a scenario, if BPI Danantara invests 1% of its total assets amounting to IDR 14,670 trillion, which is about IDR 146 trillion, to purchase Bitcoin, then Indonesia has the potential to become the third-largest BTC holder in the world, after the United States (US) and China.
Assuming the average price of Bitcoin is IDR 1.72 billion per coin in the last week, Indonesia could own around 84,837 BTC. This amount surpasses the holdings of the United Kingdom (61,245 BTC), Ukraine (46,351 BTC), and North Korea (13,562 BTC).
Currently, the US leads with 198,012 BTC, followed by China with 190,000 BTC. Even Bhutan and El Salvador, known for actively accumulating Bitcoin, are still far below that figure, each holding only 12,062 BTC and 6,172 BTC, respectively.
As of now, there has been no official response from the government regarding this proposal. However, the Financial Services Authority (OJK) has welcomed this idea positively, although it emphasizes the importance of prudence in managing state assets.
What do you think? Should Indonesia purchase Bitcoin through Danantara?
@everyone
#In-Depth Analysis | If Danantara Invests 1% in Bitcoin, Indonesia Could Become the 3rd Largest Holder Globally
The discussion of making Bitcoin (BTC) a part of the country's foreign exchange reserves through the Investment Management Agency of Daya Anagata Nusantara (BPI Danantara) is now a hot topic among the crypto community.
In a scenario, if BPI Danantara invests 1% of its total assets amounting to IDR 14,670 trillion, which is about IDR 146 trillion, to purchase Bitcoin, then Indonesia has the potential to become the third-largest BTC holder in the world, after the United States (US) and China.
Assuming the average price of Bitcoin is IDR 1.72 billion per coin in the last week, Indonesia could own around 84,837 BTC. This amount surpasses the holdings of the United Kingdom (61,245 BTC), Ukraine (46,351 BTC), and North Korea (13,562 BTC).
Currently, the US leads with 198,012 BTC, followed by China with 190,000 BTC. Even Bhutan and El Salvador, known for actively accumulating Bitcoin, are still far below that figure, each holding only 12,062 BTC and 6,172 BTC, respectively.
As of now, there has been no official response from the government regarding this proposal. However, the Financial Services Authority (OJK) has welcomed this idea positively, although it emphasizes the importance of prudence in managing state assets.
What do you think? Should Indonesia purchase Bitcoin through Danantara?
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