- Indonesia considers adopting Bitcoin as a national reserve asset.
- CZ’s prediction of a global BTC race is already starting.
- What other countries will follow Indonesia’s lead?
The Indonesian Vice President’s office is reportedly considering the inclusion of the pioneer crypto asset into its national reserve strategy. As Indonesia considers adopting Bitcoin as a national reserve asset, CZ’s prediction of a global BTC race seems to have begun. For Indonesia, this is a significant development of sovereign crypto adoption that could ripple across the rest of the world.
Indonesia Considers Adopting Bitcoin as a National Reserve Asset
As the fourth most populated country, Indonesia could bring a burst of interest into Bitcoin and crypto upon adopting Bitcoin as a national reserve. Much like El Salvador making Bitcoin a legal tender last bull cycle and encouraging its citizens to hold Bitcoin, a similar effect may come to be in Indonesia, except on a much larger scale, given how Indonesia may take this consideration of Bitcoin forward.
The world has seen thus far how holding Bitcoin as a treasury has impacted other countries, bringing in prosperity and a significant boost to the country’s economy. At the moment, Indonesia is seeking input on potential frameworks for asset diversification. These options include both direct BTC holdings alongside exposure to Bitcoin through ETFs. With the discussion still in its early stages, there may still be time before Indonesia makes an official announcement.
On a greater scale, the fact that Indonesia is considering adopting Bitcoin as a national reserve asset marks a notable shift from traditional asset allocation strategies historically dominated by gold and fiat-backed securities. By considering Bitcoin, Indonesia is hoping to increase economic resilience, hedge against inflation, and position itself strategically within the global digital economy.
Global BTC Accumulation Race Begins
Just yesterday, the Founder and former CEO of Binance, Changpeng ‘CZ’ Zhao, stated how a global BTC race will take over the world. He believes that with legal regulations around Bitcoin easing, and the status of the asset being recognized as a capable replacement for gold, it would lead to mass adoption even between governments. He also encouraged countries not to be late in adopting BTC.
He says this specifically because, as many crypto leaders know, the price of BTC will only continue to grow, and with whales and institutions accumulating more BTC, the price of BTC will likely continue towards claiming higher highs. This means that countries buying in late will have to spend a lot more to get a smaller share of the cut. Will Indonesia hold BTC soon, and will their move trigger a much more bullish reaction for global BTC accumulation?
