Indonesia is actively considering including Bitcoin as part of its national economic strategy, exploring the idea of establishing a national Bitcoin reserve. Recent reports indicate that Bitcoin Indonesia, the country's largest Bitcoin community, presented proposals to the Vice President’s office focusing on how Bitcoin could benefit Indonesia's economy. The discussions highlighted the potential of using Bitcoin mining powered by Indonesia’s abundant renewable energy resources such as geothermal and hydroelectric power to mine Bitcoin as part of the reserve strategy. This would leverage Bitcoin’s fixed supply and global acceptance to boost financial stability and sustainability while aligning with Indonesia’s recent cryptocurrency market growth and rising crypto tax revenues.
Key points from these discussions include:
Indonesia sees Bitcoin as a strategic reserve asset to diversify its financial reserves, traditionally composed of gold, US dollars, and government bonds.
The government is interested in public education around blockchain and Bitcoin to foster knowledge and adoption.
Indonesia’s crypto market showed strong growth in 2024, with over $40 billion in transactions and a significant increase in crypto-related tax revenue.
Renewable energy-powered Bitcoin mining could create jobs, support technology development, and help stabilize the energy grid.
The initiative reflects Indonesia’s intent to maintain financial sovereignty and position itself as a leader in digital finance.
While no formal policy has yet been set, the talks demonstrate serious government interest in exploring Bitcoin’s role in national reserves and economic resilience.
Michael Saylor’s long-term Bitcoin price predictions (e.g., $13 million by 2045) were cited as part of the strategic narrative supporting Bitcoin as a reserve asset.
Indonesia is part of a regional trend along with countries like Brazil that are also exploring national Bitcoin reserves.
Overall, Indonesia's move is notable for tying Bitcoin reserve plans with sustainable energy use and education to balance risks and benefits, potentially making it a pioneering example of integrating Bitcoin into state financial strategy.