INDODAX CEO: Bitcoin Will Become a Safe Haven Asset in the Future

JAKARTA - In the midst of global economic uncertainty, Bitcoin, a type of crypto asset, is considered a type of safe haven asset like gold. This is due to price fluctuations between Bitcoin and gold which have never fallen significantly.

"Bitcoin and gold are both assets that go through a processing process first. There are exploration costs before they become an asset and the process is not easy. The process of making Bitcoin requires electricity that is more than 60 percent of the total electricity needs in Indonesia or twice that "Malaysia. Therefore, the price has never dropped significantly," said Oscar Darmawan, CEO of INDODAX, in his statement, quoted Wednesday, March 13.

This was conveyed by Oscar Darmawan at the continuation of the INDODAX Goes to Campus event series, on Saturday, March 9, 2024. In this event, Oscar Darmawan concluded that the elements of Bitcoin and gold are not just demand and supply, but there is a processing process.

"Because it requires additional costs and effort, of course, Bitcoin and gold makers will set prices above production costs to avoid losses," said Oscar Darmawan.

Even though both are classified as safe-haven assets, Oscar Darmawan said that Bitcoin is more practical and easy to carry anywhere and anytime.

"When viewed from the aspect of portability, gold certainly has its own weight, which makes it less efficient to carry anywhere. Meanwhile, Bitcoin can be easily accessed and taken anywhere. This advantage makes Bitcoin a more practical choice, especially in critical situations, " said Oscar Darmawan.

Not only that, Oscar Darmawan also said that one of the largest Bitcoin mining companies, Blackrock, has now made Bitcoin a reserve asset amidst global economic instability. Therefore, it is recommended that students start investing in crypto assets.

"Currently, the price of Bitcoin itself has risen to IDR 1 billion, exceeding Bitcoin's ATH in 2021. This proves that crypto assets are assets that have high profit potential. Moreover, Blackrock has also used Bitcoin as their reserve asset, which indicates that Bitcoin is indeed "has been recognized as an integral part of an investment strategy in facing global economic instability," said Oscar Darmawan.

Oscar Darmawan also said that by investing in crypto assets, students have the opportunity to develop their financial portfolio and achieve significant potential profits in the future.

"At INDODAX, students can also invest starting from IDR 10,000. So, don't worry, students who have limited capital can still invest," said Oscar Darmawan.

Oscar Darmawan hopes that education about crypto assets can open up and equalize public understanding of the potential and benefits of investing.