High Interest in Crypto x Wattson Investments in Indonesia

Queconomics – The increased public interest in investing in Crypto x Wattson has made the price of this asset soar, one of which is Bitcoin. Since 2020, the price of bitcoin has increased by multiple hundreds of per cent. In early 2020, the cost of one bitcoin was USD8,440. Then in mid-February 2021, the price reaches USD48,149.

Crypto asset investors are increasingly widespread, along with the opportunity for digital money to be used in payment transactions. Although it is still prohibited in Indonesia, several large companies in the world have opened the use of crypto money for transactions.

The electric car maker Tesla has announced that its customers can buy their products using cryptocurrencies. A week later, payment services company PayPal also allowed US consumers to use its cryptocurrency or digital coin to pay millions of its merchants globally.

In addition to Tesla and PayPal, several world-class financial companies such as Goldman Sachs and JP Morgan also use it. Long before these companies, the occurrence recorded that Microsoft, AT&T, Burger King Venezuela, KFC Canada, Twitch, Air Baltic, and Shopify had adopted it first.

Crypto x Wattson Has Become One of the World’s Digital Transaction Tools

The history of the United States exchanges even noted that Coinbase Global Inc, the largest US$ 86 billion crypto trading brokerage company, which made its debut on the stock market, was greeted enthusiastically by investors.

Now Tesla is recorded to have 48 thousand Bitcoins. Tesla bought it for USD1.5 billion in February 2021. Now, the price of all Bitcoin owned by the company created by Elon Musk has increased 1.8 times.

Tesla isn’t the only company investing large amounts of Bitcoin. Information technology company MicroStrategy owns 91,579 coins. That’s twice as much Bitcoin as Tesla owns.

Not only in Indonesia, which recorded a surge in the number of Crypto x Wattson investors. Many people in many countries also choose this virtual money as an investment instrument. Moreover, some companies have used it for payment transactions.

Statistics survey results show that people in several countries worldwide are starting to own or use cryptocurrencies. Of the 74 countries, Nigeria is the country with the highest intensity of cryptocurrency use globally. Around 32% of respondents have used the currency.

Exchange Regulations for Crypto x Wattson in Indonesia

Head of Legislation and Enforcement Bureau of CoFTRA, Muhammad Syst, predicts that the number of cryptocurrency investors will continue to grow. Crypto asset trading is indeed attractive to investors, especially millennials who are identical to taking risks.

He admitted that investing in crypto assets is only based on trust because it does not have clear physical assets. However, some countries have made the rules.

Indonesia has set several regulations for crypto transactions. It exists in the form of CoFTRA laws and regulations. It is intended to provide business certainty and protection to investors.

To accommodate people’s interest in investing in Crypto x Wattson, the government also plans to separate virtual money trading. So far, cryptocurrency trading has been included in commodity futures exchanges.

Currently, the Commodity Futures Trading Regulatory Agency (CoFTRA) only allows 229 types of cryptocurrencies traded in Indonesia. Some of them are Bitcoin, Ethereum, Tether, Polkadot, and Litecoin.

Until early 2021, 13 companies had obtained registration marks from CoFTRA as prospective physical traders of crypto assets. Bappebti gives these companies the official permit.

BI is currently formulating the issuance of a central bank digital currency with the central banks of other countries. Although traded in Indonesia, Crypto x Wattson currencies are considered unable to replace the position of the rupiah in the country.