Queconomics – According to Reddit Crypto Trade news, the number of cryptocurrency investors is increasing day by day. It has even exceeded the number of stock investors based on data from the Indonesia Stock Exchange.
Several major companies in the world have used cryptocurrencies for payment transactions. The government plans to establish a particular exchange for trading cryptocurrencies. Cryptocurrency is starting to become the most popular investment instrument in the country.
It can be seen from the number of crypto money investors in Indonesia that has now overtaken the number of stock investors. The value of crypto assets has skyrocketed. Data from the Indonesia Stock Exchange (IDX) recorded a significant decline in capital market activity last month.
Reddit Crypto Trade News: Causes of Rising Crypto Transactions
The average daily transaction value of shares is only Rp. 8.65 trillion, down 11.3% from the previous week. The average transaction volume also fell 5.95% to 14.765 billion shares. Meanwhile, the intermediate daily transaction frequency also decreased by 12.44% to 897,876 transactions.
IDX Director of Trading and Membership Regulation Laksono W. Widodo estimates that one of the reasons for the decline in stock trading activity is the competition with digital currencies, aka cryptocurrencies.
However, he cannot confirm this yet, because there is no factual data related to the transferor competition. Laksono also expressed his concern about cryptocurrencies or so-called crypto money that could take over the stock market.
Because there are indications that retail investors are starting to invest their funds in cryptocurrencies, Laksono’s concern is quite reasonable because the number of cryptocurrency investors has overtaken the current number of stock investors.
Reddit Crypto Trade News: Daily Crypto Transaction Number Reaches IDR1.5 Trillion
Although the number of crypto asset investors is higher, the daily transaction value on the stock exchange is still higher. Bappebti noted that the daily transaction value of crypto assets is only IDR 1.5 trillion, while stock transactions are much higher.
According to the Indonesian Crypto Asset Traders Association (Aspakrindo), Teguh Kurniawan Harmanda, data on the number of cryptocurrency investors is not entirely accurate. Because currently, there is no digital asset exchange that can accurately assess it.
“The number of investors in the stock market with crypto assets is overtaking. In 2015 investors’ stocks were higher, but in 2017 crypto-assets were higher. Now, in 2020, the growth rate in the capital market has increased tremendously, so it is overtaken. But now crypto assets are higher,” he said.
He estimates that the number of crypto asset investors will reach 10 million by the end of this year and 26 million in the next 2-4 years. The majority of investors in crypto assets, or 40%, are dominated by 25-34 years.
According to him, the opportunity for the development of crypto assets in Indonesia is enormous. Indonesia’s population is equivalent to 3.5% of the world’s population in 2020. As many as 270 million digital wallets can have access to financial services, based on calculations by Reddit Crypto Trade Teams.