Data from Indonesian regulators reveal that more than 60% of crypto investors in Indonesia consist of Gen Zs and Millennials in the age range of 18 to 30 years old.

Rising Popularity of Cryptocurrency Among Young Indonesians

Cryptocurrency is becoming increasingly popular among young Indonesians, specifically those in the Gen Z and Millennial age groups. According to data from The Indonesian Commodity Futures Trading Regulatory Agency (Bappebti), by September 2024, 26.9% of crypto investors are aged 18 to 24 years old, while 35.1% are between 25 to 30 years old.

Youth’s Enthusiasm for Digital Assets

Ir. Kasan, Head of Bappebti, stated that young people continue to show high enthusiasm for digital assets as an alternative to traditional financial assets like stocks and gold. He emphasized the importance of promoting financial literacy, particularly for those interested in understanding crypto.

“Financial literacy, including an understanding of crypto, is very important so that the younger generation can choose the right investment and avoid unnecessary financial risks,” said Kasan.

Financial Management Among Millennials and Gen Z

A survey titled “The Indonesia Millennial and Gen Z Report 2024” indicates that 38% of Millennials and 41% of Gen Z in Indonesia prepare a monthly financial budget. Additionally, 32% of Millennials and 26% of Gen Z set aside some of their income for savings and investment. This trend shows that financial management and investment are becoming a priority for the younger generation.

Significant Growth in Crypto Transactions

According to the latest data from Bappebti, the total value of crypto transactions as of September 2024 reached IDR 33.67 trillion ($2.13 billion USD). Although this figure represents a slight decrease compared to August 2024, the value of crypto transactions from January to September 2024 has surpassed the same period in 2023.

Last year, the total value of crypto transactions was IDR 94.41 trillion ($5.99 billion USD). From January to September 2024, the total value of crypto transactions in Indonesia amounted to IDR 426.69 trillion ($27.10 billion USD), reflecting a 351.97% increase compared to the previous year. This substantial growth highlights the increasing popularity of cryptocurrency as an investment asset among Indonesians.

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