Indonesia Contemplates Establishing a National Bitcoin Reserve Following Meeting at the Vice President’s Office

Bitcoin Indonesia Proposes Bitcoin as National Reserve to Vice President’s Office

Bitcoin Indonesia announced it met with Indonesia’s Vice President’s office to present a proposal on using Bitcoin as a national reserve. The meeting involved special staff from Vice President Gibran Rakabuming Raka’s office.

In an X post, Bitcoin Indonesia said:

“We were invited to the Vice President’s office to present how Bitcoin could benefit the country.”

The group stated it also discussed Bitcoin mining as part of a national reserve strategy. It emphasized the potential role of Bitcoin education programs to increase understanding and support adoption in the country.

Indonesia, with 280 million people, is the fourth most populous nation and has a GDP of $1.4 trillion, ranking 16th globally. The talks highlighted how Bitcoin mining and education initiatives could fit into broader economic planning.

Bitcoin Mining and Education Highlighted as Key Points

Bitcoin Indonesia pointed to hydroelectric and geothermal energy as untapped resources that could be used for Bitcoin mining. It referred to other countries where similar strategies have created jobs and supported economic activity.

The group’s presentation included Michael Saylor’s Bitcoin price prediction, projecting $13 million by 2045 in a base case and $49 million in a bull case. This forecast was shared to show the scale of potential future value.

Bitcoin education was another focus. According to Bitcoin Indonesia, an official from the Vice President’s office said:

“Indonesia must also continue to educate about Bitcoin in the future.”

The group stated that education would help build awareness around Bitcoin’s use and reserve potential in the country.

Indonesia’s Economic Indicators Show Low Debt and Stable Inflation

Indonesia’s debt-to-GDP ratio is 39%, significantly below many countries exploring Bitcoin reserves. Its inflation rate stood at 0.76% in January 2025, indicating price stability.

These figures differ from economies adopting Bitcoin reserves to address debt and inflation. Instead, the discussion in Indonesia focused on Bitcoin mining and education rather than urgent financial pressure.

Indonesia Tightens Crypto Taxes and Maintains Payment Ban

Indonesia allows crypto trading but enforces a ban on crypto payments. Last week, the Finance Ministry increased taxes on crypto trading and mining.

Income tax on crypto sales through local exchanges doubled from 0.1% to 0.21%. Sales on foreign exchanges rose from 0.2% to 1%. Additionally, the value-added tax (VAT) on crypto mining doubled from 1.1% to 2.2%.

The crypto payment ban, in effect since 2017 and reaffirmed in 2023, applies to residents and tourists. Authorities warned that tourists making crypto payments “would be dealt with firmly.” However, enforcement appears inconsistent, as property listings in Bali have openly accepted Bitcoin.

Bitcoin Indonesia referenced countries like the United States, where Bitcoin is considered a reserve hedge against growing debt-to-GDP ratios. It tied Bitcoin mining and education efforts to global discussions about using Bitcoin as a national reserve asset.

The meeting shows official engagement with Bitcoin as part of economic planning and highlights how crypto regulation and reserve strategies intersect in Indonesia’s policymaking.