Crypto Investors Reach IDR 301.75 Trillion In June 2024, Reku Boss Says This

Illustration (Photo: Doc Antara)

JAKARTA - Chief Compliance Officer (CCO) Reku Robby assessed that the growth of the crypto industry, one of which was driven by the Exchange-Trad Fund (ETF) Bitcoin.

The Commodity Futures Trading Supervisory Agency (CoFTRA) noted that the number of crypto investors in Indonesia reached 20.24 million with a transaction value that jumped 345 percent (yoy) at the level of IDR 301.75 trillion in June 2024.

On June 5, the spot's Bitcoin ETF in the United States recorded the second-largest daily net inflow since its listing, withdrawing funds worth US$886.75 million. This Bitcoin ETF inflow continued to rise until July, citing Crypto Intelligence, on July 12, 2024, Bitcoin Spot's ETF experienced a strong flow of funds, raising more than US$310 million (Rp5 trillion), marking its best performance since June 5, " Robby said as reported by ANTARA, Monday, July 29.

So, according to Robby, the positive performance of Bitcoin ETF not only illustrates the great interest of conservative investors in the United States in Bitcoin, but also strengthens investor confidence as a whole, including in Indonesia.

In addition, although Bitcoin's performance is still quite volatile, Bitcoin is on a bullish track playing rally which has historically started between 1-6 months after halling.

"So investor optimism is still relatively high and is reflected in the increase in the number of transactions and investors in Indonesia," he explained.

On the domestic side, Robby emphasized that crypto regulations play a role in building public trust in crypto assets.

He assessed that crypto regulations in Indonesia can be said to be quite complete, with the support of the Crypto Exchange and CoFTRA which play a role in protecting investor security.

That way, investors can feel safer and confident in investing in crypto. In addition, the crypto industry has also been legitimized by taxes.

Furthermore, Rpbby explained that regulatory support in protecting crypto investors in Indonesia is also reflected in the efforts of the Ministry of Communication and Information (Kominfo) in blocking unregistered global exchange social media.

"This of course further protects investors from investing in platforms that do not have a Bappebti license and protect exchanges in Indonesia that have made full efforts to comply with regulations in Indonesia," he said.

With the increase in the number of investors, Reku is optimistic that the number of crypto investors in Indonesia still has the potential to continue to increase.

Robby, who also serves as Chairman of the Indonesian Crypto Asset Trading Association (ASPAKRINDO), said that apart from being driven by market potential that is still positive and complete regulations, it is also supported by the active crypto stakeholders and blockchain in conducting education and literacy.

He gave an example, Reku, who actively carries out online programs titled Ask Me Anything (AMA) together with representatives of crypto assets and projects such as MANTA, NEAR Protocol, ForU AI, and others for beginners and investment enthusiasts.

Thus, potential investors also get insight and understanding from direct representatives of crypto assets or related projects so that potential investors can invest wisely.

In addition, he assessed that crypto transactions in Reku were also increasing.

"Like in the first quarter of 2024, which was the best for Reku in the last two and a half years, both in terms of trading volume and financial results. Where Reku not only posted a positive volume, but also very profitable," said Robby.

Then, users' interest in the staking feature also continues to soar up to 3 times the average monthly transaction volume.

In addition to literacy programs, Reku is also to encourage public diversification in crypto assets, including by adding a list of crypto assets every week.

"Of course, in adding to the list of new crypto assets, Reku prioritizes security factors and is in accordance with Perba regulation 11 of 2022 concerning Crypto Asset Determination and has the results of an assessment using the Analytical Hierarchy Process (AHP) method set by CoFTRA. That way, users also have a wider choice to optimize their crypto investment safely and comfortably," he concluded.