Cuan! Bitcoin Price Translucent IDR 332 Million

JAKARTA - At the end of 2020, the price of crypto assets or cryptocurrencies, especially Bitcoin, shot quite high. Even the price of a Bitcoin, has touched the price of IDR 323 million or is worth 22.918 US dollars.

This figure is the highest jump in the history of cryptocurrencies throughout 2020. In today's trading session recorded on the Indodax platform, the price of Bitcoin reached 22,000 US dollars or the equivalent of Rp 310 million (assuming an exchange rate of Rp 14,100 per US dollar).

Indodax CEO Oscar Darmawan, said that this achievement is an important history in cryptocurrency and blockchain technology. Given that crypto assets once touched their highest price in December 2017.

"This is the most important day for the crypto and blockchain world, Bitcoin has again broken through its highest price in history," he said in a written statement, Thursday, December 17.

According to Oscar, the current Bitcoin price position also breaks predictions from market analysts who project the new US $ 20,000 level will be reached in 2021. However, the prediction happened sooner, the Bitcoin price jumped high and passed the 22,000 US dollar level in mid-December 2020.

This surge has also occurred due to the massive demand for crypto assets like Bitcoin. Moreover, transactions with Bitcoin are now getting easier, for example PayPal which provides a Bitcoin payment feature.

"Not to mention a number of large institutional investors who expressed interest in buying Bitcoin such as the Guggenheim Partners. Even the Wall Street company also announced that it has invested 530 million US dollars in Bitcoin," he explained.

Another trigger that has boosted the price of Bitcoin, according to Oscar, is investors who have begun to regard crypto assets as safe haven assets during inflation such as the Covid-19 pandemic.

Even so, the number of Bitcoin in the world is quite limited to only 21 million pieces to maintain its supply and value. Given that currently there are many miners who are doing digital mining on a large scale.

"The increase in the price of Bitcoin this year is different in 2017 where at that time, people bought Bitcoin without looking at Bitcoin fundamentals. Now, people have seen Bitcoin fundamentals as a proven safe haven asset and become a good inflation hedge, "explained Oscar.