According to a survey released on April 4 by cryptocurrency exchange Gemini, Indonesians have the highest crypto assets in the world. Additionally, many Indonesian investors view digital assets as a kind of inflation hedge.
In the survey titled “Global State of Crypto Report,” 41% of Indonesians between the ages of 18 and 75 with an annual income of more than $14,000 own crypto assets.
Additionally, 61% of Indonesian respondents thought that cryptocurrency represented the future of money. Indonesia was closely followed by Brazil, both of which had the same percentage. However, the pair was followed by the UAE, which had 35%, since the UAE is aiming to become a global crypto hub.
Cryptocurrencies including Bitcoin, Ethereum, and Solana have grown in popularity in Indonesia over the past few years. The government supported the currency’s growth as part of a larger plan to restructure the country’s digital economy. Although cryptos are not permitted to be used as a method of exchange, the Indonesian government allows them to be exchanged as commodities.
Concerns about inflation were a major driver of growth. According to the analysis, the gender gap in crypto may be decreasing, and education remains the most significant barrier to investing in crypto globally.
Indonesians earning more than $14,000 per year were included in the poll, despite the country having a per capita income of $4,350 in 2021. Nonetheless, the statistics in the report helped shed some light on the present adoption rates in Indonesia and the Asia-Pacific region.
