Stock Transactions Decline, Bitcoin Investments Soar

Crypto assets are not the cause of the decline in stock transactions(Coingape)

JAKARTA - Cryptocurrency investment is getting higher, on the contrary transactions on the stock exchange have decreased. If usually a stock transaction in a day there is Rp 20 trillion, then lately only Rp 8 trillion to Rp 10 trillion only.

Oscar Darmawan as CEO of Indodax commented on this incident. He said that the skyrocketing of bitcoin transactions is due to global trends occurring around the world.

Bitcoin cs is in the interest of the world community, it is no wonder that many people are interested in investing in crypto assets. While in Indonesia itself, bitcoin transactions are not so large, why many people have not been educated about bitcoin.

Oscar also said that the presence of crypto assets is not to replace the existing ecosystem but to complement it.

"So, the increase in bitcoin transactions is happening all over the world and almost every country. Bitcoin like crypto itself is here to complement the existing ecosystem and not to replace," said Oscar as the founder of Bitcoin.co.id and CEO of Indodax.

Indodax itself is a crypto asset trading platform in Indonesia. Indodax denied allegations that the decline in stock transactions was due to the increase in crypto asset transactions.

According to Oscar, that's not true. Because the volume and transactions of crypto assets are currently increasing in various parts of the world. This is due to the strengthening price of digital money such as bitcoin. In addition, crypto asset traders are also not the same as stock traders.

"Crypto traders are more high risk and high gain. There is nothing to worry about this phenomenon," he added.

Bitcoin transactions that occur in ri itself is still relatively small, which is only 1 percent of global volume transactions. Oscar added that the volume of transactions is also not very high when compared to what happened in 2017.

Nevertheless, crypto assets in Indonesia itself have been recognized as commodities. In addition, its ownership is also shaded by the legal umbrella. Everything related to cryptocurrencies has been regulated by the government through the Trading and Commodity Exchange Trading Supervisory Board (BAPPEBTI).

On the other hand, currently the Indonesian government does not use cryptocurrencies as a means of transaction. The government also plans to make a digital version of Rupiah.

"Bitcoin, crypto and other blockchain technology products are also present to improve the well-being of Indonesians. Financial technology was also born to improve digital financial literacy in Indonesia," he added.

Oscar also revealed that this cryptocurrency has a high degree of fluctuation. This is due to transactions that take place within 24 hours with the market connected to various circles of the world community.

The CEO of Indodax also explained that the price of crypto assets itself is transparent and not manipulative. Because bitcoin cs uses blockchain technology that is secure and transparent.

"The price of bitcoin around the world is almost the same. Because the market is all over the world. The transactions are also recorded and transparent," he added.