Data from Indonesian regulatory authorities indicate that over 60% of cryptocurrency investors in Indonesia are comprised of individuals from Generation Z and Millennials, specifically those aged between 18 and 30 years.
A report from the local Indonesian media outlet Kompas.id indicates that cryptocurrency is gaining significant traction among young Indonesians, particularly within the Gen Z and Millennial demographics.
Statistics from The Indonesian Commodity Futures Trading Regulatory Agency, referred to locally as Bappebti, show that by September 2024, approximately 26.9% of cryptocurrency investors will be between the ages of 18 and 24. Additionally, 35.1% of investors fall within the 25 to 30 age range.
The Head of Bappebti, Ir. Kasan, stated that there is a notable enthusiasm among young individuals for digital assets, viewing them as a viable alternative to conventional financial assets such as stocks and gold.
He emphasizes the significance of fostering financial literacy among younger generations, particularly for those keen on comprehending cryptocurrency. He asserts that it is essential for young individuals to remain informed about the latest advancements in technology and finance.
“Financial literacy, which encompasses knowledge of cryptocurrency, is crucial for the younger generation to make informed investment choices and mitigate unnecessary financial risks,” stated Kasan.
A recent survey, named “The Indonesia Millennial and Gen Z Report 2024,” indicates that 38% of Millennials and 41% of Gen Z individuals in Indonesia regularly create a monthly financial budget. Additionally, 32% of Millennials and 26% of Gen Z allocate a portion of their income for savings and investments. This trend highlights that financial management and investment have become significant priorities for the younger demographic.
As per the most recent information provided by Bappebti, the cumulative value of cryptocurrency transactions as of September 2024 amounted to IDR 33.67 trillion, which is approximately $2.13 billion USD.
Although this figure represents a slight decline compared to August 2024, the total value of cryptocurrency transactions from January to September of this year has surpassed that of the corresponding period in 2023.
In the previous year, the overall value of cryptocurrency transactions reached IDR 94.41 trillion (approximately $5.99 billion USD). In contrast, the total value of cryptocurrency transactions in Indonesia from January 2024 to September 2024 has risen to IDR 426.69 trillion (around $27.10 billion USD), reflecting an increase of 351.97% compared to the previous year. This trend indicates a growing popularity of cryptocurrency as an investment asset among the Indonesian population.
