Nanovest Optimistic Crypto Sale And Purchase Transactions Grow Significantly In 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - The digital asset platform in Indonesia, Nanovest, expressed optimism that in 2024 crypto asset buying and selling transactions will experience significant growth.

Chief Marketing Officer Nanovest Jovita Widjaja said a number of reasons that will make Nanovest optimism next year, namely the climate of crypto asset transactions and global shares in 2024 are projected to be more promising as the number of investors in Indonesia is driven by the increasing interest of young people in investing.

"The ease of opening buying and selling transactions of crypto assets and also the interest of young people in crypto is the main reason for this fertile growth," he said in a written statement, quoted from Antara, Thursday, December 28.

The Indonesian Central Securities Depository (KSEI) reports that 57 percent of capital market investors are currently young people under 30 years of age.

The Commodity Futures Trading Supervisory Agency (CoFTRA) noted that the number of crypto investors in Indonesia reached 17.54 million people as of June 2023, far exceeding the number of capital and mutual fund market investors.

Jovita stated that there was an increase in the number of crypto asset investors by 80 percent, and growth in the number of US stock investors by 40 percent throughout 2023.

Regarding this, he also said, in his second year, Nanovest focused on its business strategy, namely customers-centric, which emphasized the importance of listening to the needs of its users, and answered by providing solutions and launching new innovations to provide a better investment experience for its users.

Head of Crypto Strategy Nanovest M Yusuf Musa added that in the fourth quarter of 2023 Bitcoin was recorded as the best performing investment instrument when compared to gold and forex investments (foreign currencies).

Bitcoin price jumped by 122 percent compared to the third quarter, from 27,230 US dollars to 44,100 US dollars.

"Fear & Greed index for Bitcoin also shows that it is currently entering the 'Greed' phase, where investors are advised to buy," he said again.

However, he said, it is very important for novice crypto investors to be calm and stay away from rumors, and not to buy crypto assets without a basic calculation, let alone use debt funds because it will be very detrimental.