Over 60% of Young Indonesians Invest in Cryptocurrency: Report
Date: 2024-10-29 Author: Gabriel Deangelo Categories: IN WORLD
According to Indonesian media outlet Kompas.id, cryptocurrencies are enjoying growing popularity among young Indonesians, especially Gen Z and millennials. Data provided by the Commodity Futures Trading Regulatory Authority of Indonesia, known as Bappebti, shows that by September 2024, 26.9% of cryptocurrency investors are between the ages of 18 and 24, while 35.1% are between the ages of 25 and 30.
Bappebti CEO Ir. Kasan noted that the younger generation is actively showing interest in digital assets, seeing them as an alternative to traditional financial assets such as stocks and gold.
At the same time, Kasan emphasizes the need to improve financial literacy among young people, especially those who are interested in cryptocurrencies. According to him, young investors should keep up with the latest technology and financial trends to avoid possible financial risks. “Financial literacy, including knowledge about cryptocurrency, is important for the younger generation to make informed investment choices,” he added.
Other studies also highlight the financial awareness of the youth. According to the report “Indonesian Millennials and Generation Z 2024,” 38% of millennials and 41% of Gen Z in Indonesia make monthly budgets. In addition, 32% of millennials and 26% of Gen Z regularly allocate a portion of their income to savings and investments. These data indicate that financial management and investments are becoming a priority for the youth.
According to the latest data from Bappebti, the total cryptocurrency transaction volume in Indonesia by September 2024 was IDR 33.67 trillion, equivalent to US$2.13 billion. Despite a slight decrease compared to August, the cryptocurrency transaction volume from January to September this year exceeded the same period in 2023.
Last year, the cryptocurrency transaction volume was IDR 94.41 trillion (US$5.99 billion). From January to September 2024, the total cryptocurrency transaction volume in Indonesia reached IDR 426.69 trillion (US$27.10 billion), an increase of 351.97% compared to last year. This data shows that cryptocurrency is becoming an increasingly popular investment asset among Indonesians.
